Inflation in Small Countries
Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 119)
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This volume contains the contributions to the conference “Inflation in Small Countries”, held in Vienna in November 1974. The participants would like to express their appreciation to the Austrian Minister of Finance for having made this conference possible and to the Institute for Advanced Studies in Vienna for their assistance. The selection and treatment of the subjects reflect both the manner of presenting the problem and the state of current inflation-theory. In essence, three fundamental concepts are currently rivalling to explain the inflation:
the structural hypothesis, the Phillips curve, and the monetary hypothesis.
KeywordsLabor Productivity Money Supply Nominal Wage Phillips Curve Inflationary Expectation
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- 1).Stanley Fisher, Wage-Indexation and Macroeconomic Stability, Conference on: The Monetary Mechanism in Open Economies (Helsinki 1975).Google Scholar
© Springer-Verlag Berlin · Heidelberg 1976