Hidden Bibliographic Details
| Other authors / contributors: | Griffiths, Mark E. L., author.
Moghadam, Reza, author.
International Monetary Fund. European I Department, issuing body.
|
|---|
| ISBN: | 1281604844
9781281604842
9781451891874
1451891873
1462301649
9781462301645
1452785619
9781452785615
9786613785534
6613785539
9781451844016
1451844018
|
|---|
| ISSN: | 2227-8885
|
|---|
| 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."
"March 1998."
Includes bibliographical references (pages 26-27).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2014.
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
English.
digitized 2014 HathiTrust Digital Library committed to preserve
Print version record.
|
|---|
| 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.
|
|---|
| Other form: | Print version: Cottarelli, Carlo. Nonmonetary determinants of inflation. [Washington, D.C.] : International Monetary Fund, European I Dept. 1998
|
|---|
| Standard no.: | 10.5089/9781451891874.001
|
|---|
