Inflation and the Theory of Money

by R.J. Ball

List Price: $29.95
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Manufacturer: Aldine Transaction

Average Customer Rating: Average rating of 5.0/5

Binding: Paperback
Dewey Decimal Number: 332.41
EAN: 9780202309231
ISBN: 0202309231
Label: Aldine Transaction
Number Of Items: 1
Number Of Pages: 313
Publication Date: 2007-02-28
Publisher: Aldine Transaction
Studio: Aldine Transaction

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Customer Rating: Average rating of 5/5

Summary: Inflation and the Theory of Money

Comment: This detailed, readable review of contempoary theory on the problems of inflation fills an important gap in the literature on macroeconomics that: 1) assesses the implications of inflationary processes for economic policy; 2) synthesizes a general framework within which to illustrate inflationary processes; 3) reconciles the approaches of "demand inflation" and "cost Inflation"; and 4) analyzes the determination and behavior of the general price level in an exchange economy.

The first part of the book reviews neo-classical and "Keynesian" type models of the closed macro-economy, analyzes determination of the general price level, and introduces a restatement of conventional employment theory with emphasis on the general price level.

The second part considers the problems of price and wage determinations and the demend for money in more detail, synthesizing the analyses into a model of the macro-economy and discussing the implications of this model and the preceding analysis for economic policy. Describing alternative approaches to the theory of inflation, each of which has resulted in partial theories, the book avoids fragmentary explanations by setting the entire discussion in the context of a macro-economic general equilibrium framework.
--- from book's back cover

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