At first glance it would not appear difficult to distinguish between cases of inflation which are
due respectively to the push of wage increases and to the pull of demand. It seems …

Just as generals are said to be always fighting the wrong war, economists have been
accused of fighting the wrong inflation. Thus, at the time of the 1946-48 rise in American …

INFLATION, OUTPUT, AND EMPLOYMENT: SOME CLARIFICATIONS DAN E. BIRCH,*
ALAN A. RABIN** and LELAND B. 1. INTRODUCTION The notion has become oddly …

Before considering the implications of the mark-up hypothesis, it may be useful to review the
reactions of the system under the hypothesis that prices always rise when there is excess …

Until recently, monetary theorists have approached the topic of inflation with an air of
assurance. XWhether employing the homely but durable equation of exchange or the newer …

The persistent rise in prices observed in so many nations since the outbreak of the Second
World War has formed the backdrop of a dispute among econo-mists concerning the …

The persistence of inflation in the past decade has undermined confi dence in our capability
of reducing it. To many it appears intractable. While the inflation rate has declined in periods …

JNFLATION is colloquially described as a situation in which the flow of purchasing power is
increasing faster than the flow of goods and services-with consequent price increases. Most …

The short-run behavior of aggregate prices is one of the most significant and controversial of
macroeconomic variables. In a much-criticized section of the General Theory, Keynes …

Most discussions of this subject say, in effect:" Cost inflation is ob-viously a serious problem
in the American economy. Unfortunately, there is little we can do about it." I propose to lend …