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Seeks a cause for inflation by examining and analyzing 15 great inflationary periods in history.
'. . . this is an extremely valuable collection, and one which anyone interested in both present and past macroeconomics should have. . . . This is an outstanding collection of papers. Virtually no essay in the collection is without interest and it should be on the bookshelves of everybody interested in monetary economics.' - D.P. O'Brien, The Economic Journal Thomas M. Humphrey has made many significant contributions to the theories of money, banking and inflation. This book presents his most important work on the application of the history of economic thought to the analysis of current policy problems. Money, Banking and Inflation focuses on such traditional central banking concerns as money stock control, price level stabilization, interest rates smoothing, exchange rate targeting, lender-of-last-resort responsibilities, limitations imposed by short-run trade-offs and non-neutralities, and appropriate responses to supply shocks. Three of the essays, however, digress from these themes to focus on geometrical diagrams employed in price theory and the theory of commercial policy. Virtually all the essays take an historical-doctrinal perspective which besides showing how these theories developed over time, allows them to be ranked according to their effectiveness in monetary controversies old and new.
Exploring the characteristics of inflations and comparing historical cases from Roman times up to the modern day, this book provides an in depth discussion of the subject. It analyses the high and moderate inflations caused by the inflationary bias of
This book challenges the conventional view that monetarism is a necessary part of classical economics and shows, in an historical account of monetary controversy, that the framework upon which classical analysis is based suggests an alternative account of the inflationary process. A corollary of the argument is that the monetarist approach is a logically necessary component of neoclassical analysis and that any attempt to criticise that approach in a fundamental way must involve an explicit rejection of the conceptual structure of neoclassical economics.
Excerpt from The Economic Consequences of the Bank War: An Analysis of the Inflation of the 1830's The 1830's represent a fascinating period in American history. They witnessed the emergence of the complex phenomenon known as Jacksonian democracy and the rise and collapse of one of the fastest inflationary movements of the nineteenth century. These two events normally are thought to have been causally connected, since one of the defining acts of Jacksonsonian democracy was the veto and destruction of the Second Bank of the United States: the celebrated Bank War. The demise of this bank is thought to have removed the only effective constraint on the state banks, leading to expansion and inflation. The purpose of this essay is to take issue with this view and also with the views of several recent, unorthodox investigators. I will suggest instead that the inflation of the 1830's was the result of a fortuitous combination of events, none of which could have produced the price rise by itself, and most of which were not connected with the political acts of President Jackson. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Handbook of Inflation Indexed Bonds provides complete coverage of inflation protection bonds beginning with their first U.S. issuance in 1997. Five, in-depth sections detail: strategic asset allocation; mechanics, valuation, and risk monitoring; global environment; issuers; and investors.
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