Inflation in Open Economics
- 298 pages
- 11 hours of reading
In a system of fixed exchange rates like that established at Bretton Woods inflation is an international phenomenon determined by the rate of growth of the world money supply. This monetarist proposition has been rejected by those economists who emphasize national forces in the generation of inflationary pressure, such as trade union militancy, social conflict, etc. The papers in this volume seek to shed light on the debate over the causes of inflation.