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The causes, costs, and compensations of inflation; an investigation of three problems in monetary theory.

9781845424848

The causes, costs, and compensations of inflation; an investigation of three problems in monetary theory.

Coleman, William Oliver.

Edward Elgar Publishing

2007

260 pages

$120.00

Hardcover

HG220

Coleman (Australian National U.) asks why inflation exists, why it is costly, and why it is beneficial. He works through the Quantity Theory (which presumes inflation results from the reduction in the value of money when certain elements demand an increase in the money supply) to find why inflation exists. He finds the cost of inflation more difficult, examining various approaches that include the notion that in equilibrium inflation is neutral in cost, leading to situations in which inflation can be good. Along the way he explores the demand for money, theories of the supply of money, inflation without a quantity of money, technological risk and the social function of real debt, monetary risk and the social function of money debt, the Quantity Theory and Wicksellianism in a risky world, and the cost of inflation as the cost of not having money or credit.

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Publication:Reference & Research Book News
Article Type:Book review
Date:May 1, 2007
Words:180
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