| Description |
1 online resource (29 pages) : illustrations |
| Series |
IMF working paper, 2227-8885 ; WP/98/23 |
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IMF working paper ; WP/98/23
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| Summary |
Inflation is a monetary phenomenon: an increase in the money supply is regarded by most economists as a condition for inflation to persist in time. Thus, differences in inflation over time and across countries can be explained by differences in the growth rate of money. This, however, is not very interesting. The interesting question, from both an analytic and a normative standpoint, is: why do governments allow the money supply to expand and create inflation? Presumably governments inflate the economy in return for some perceived real benefits. And, even though money may be neutral in the long run, it may have powerful short run real effects. Thus, to understand why inflation differs across countries and over time, one must look at differences affecting the perceived benefits from inflation, as well as the perceived costs arising from disinflation |
| Notes |
"An earlier draft ... was presented at the conference on 'Monetary Policy, Price Stability and the Structure of Goods and Labor Markets' held in Perugia on June 27-28, 1997." |
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"March 1998." |
| Bibliography |
Includes bibliographical references (pages 26-27) |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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English |
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Print version record |
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digitized 2014 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Subject |
Inflation (Finance)
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Budget deficits.
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Prices.
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Banks and banking, Central.
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Foreign exchange rates.
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Inflation, Economic
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prices.
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Banks and banking, Central
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Budget deficits
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Foreign exchange rates
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Inflation (Finance)
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Prices
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| Genre/Form |
tables (documents)
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Tables (Data)
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Tables
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Tables (Data)
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Tables (Données)
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| Form |
Electronic book
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| Author |
Griffiths, Mark E. L., author
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Moghadam, Reza, author
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International Monetary Fund. European I Department, issuing body
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| ISBN |
1281604844 |
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9781281604842 |
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9781451891874 |
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1451891873 |
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1462301649 |
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9781462301645 |
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1452785619 |
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9781452785615 |
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9786613785534 |
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6613785539 |
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9781451844016 |
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1451844018 |
| ISSN |
2227-8885 |
|
