Tag Archives: inflation

Supply Side Inflation

There are three types of inflation.  The most common is demand-pull.  The other two are cost-push. Professor John T. Harvey likes to label these as cost-push/Act of God & cost-push/market power.  Another name for these is supply side [shock] inflation. … Continue reading

Posted in Inflation, LayPerson | Tagged , , | 3 Comments

Job Guarantee and Inflation Control

In this vein we are suggesting that politicians should set a minimum acceptable living standard and ensure that a base level job is always available to allow all citizens to achieve that living standard independent of welfare payments. This is … Continue reading

Posted in Inflation, LayPerson | Tagged , | 6 Comments

Controlling Inflation

There are two broad ways to control inflation and buffer stocks are involved in each: Unemployment buffer stocks: Under a mainstream NAIRU regime (the current orthodoxy), inflation is controlled using tight monetary and fiscal policy, which leads to a buffer … Continue reading

Posted in Inflation, LayPerson | Tagged , | 16 Comments

NAIRU is a myth

Originally posted April 16th, 2009 The dreaded NAIRU is still about! I was thinking – rather optimistically – that it would just disappear from whence it came! But sorry to disappoint. Some economists just won’t learn. Yesterday the ABS released … Continue reading

Posted in Economics, Inflation | Tagged , | 1 Comment

Argentina Inflation due to pegged currency

In April 1991, Argentina adopted a rigid peg of the peso to the dollar and guaranteed convertibility under this arrangement. That is, the central bank stood by to convert pesos into dollars at the hard peg. The choice was nonsensical … Continue reading

Posted in Economics, Hyperinflation | Tagged , , , , , , | 5 Comments