This book identifies the likely causes of high inflation and assesses the available policy options for preventing or curing it. The approach consists of making hypotheses about the economic motivation of individuals, developing a model of their behaviour, testing the model against the data and assessing the results. Questions are raised about the efficacy of the conventional policy of creating a recession in order to reduce inflation. Other policy options are suggested including the restructuring of the wage re-negotiation process. The book is aimed at anyone involved in macro-economic modelling, forecasting and policy advice.
`...an excellent study on inflation.'
Introduction. The domestic market for goods and services. The labour market. The foreign exchange market. The inflation spiral equation. The dynamics of the inflation spiral. Determinants of inflation in the UK. Policy considerations. Summary and conclusion. Index.
Series: International Studies in Economic Modelling
Number Of Pages: 234
Published: 31st January 1993
Publisher: Chapman and Hall
Country of Publication: GB
Dimensions (cm): 23.5 x 15.5
Weight (kg): 1.17