The Anatomy of Inflation: An Economic History Perspective

  • Pierre L. SiklosEmail author
  • Martin T. Bohl
Reference work entry


Understanding the dynamics of inflation continues to remain at the center of work in macroeconomics. This chapter provides an up-to-date survey of inflation and its principal driving forces. The chapter starts by reviewing stylized fact about inflation and summarizing the behavior of inflation in some commodity money systems. It then summarizes the main theories that are used to explain movements in inflation. We also discuss the role played by inflation volatility and episodes of hyperinflation.


Inflation Inflation expectations Hyperinflation Central banks Monetary policy 


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© Springer Nature Singapore Pte Ltd. 2020

Authors and Affiliations

  1. 1.Wilfrid Laurier University and Balsillie School of International AffairsWaterlooCanada
  2. 2.School of Business and EconomicsUniversity of MünsterMünsterGermany

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