We are done with the study of banking operations. The next step is to incorporate them into the analysis of macroeconomic issues and this post begins on such topic by focusing on inflation. When inflation is mentioned, it is usually in relation to the cost of buying newly produced goods and services for consumption purpose. Another type of inflation concerns asset-prices, i.e. the price of non-producible commodities and old producible commodities. This post does not study assets-price inflation, which concerns theories of interest rate.…New Economic Perspectives
Money and Banking – Part 11: Inflation
Eric Tymoigne | Associate Professor of Economics at Lewis and Clark College, Portland, Oregon; and Research Associate at the Levy Economics Institute of Bard College
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