Inflation Regimes and Hyperinflation. A Post-Keynesian/Structuralist typology

Sebastien Charles, Eduardo Bastian () and Jonathan Marie

Working Papers from HAL

Abstract: The article proposes a typology of inflation regimes that can be applied to any kind of economy based on the Post-Keynesian and structuralist literature. We identify three separate regimes: the low, moderate, and high inflation regimes. Hyperinflation is also defined and described. Each regime presents different characteristics. We identify the key role played by the distributive conflict between workers and capitalists in all the regimes, the role played by the indexation of wages on domestic prices in the moderate and high inflation regimes, and the specific roles played by the widespread indexation on a short term basis in the high inflation regime. Hyperinflation is explained by selffulfilling prophecies about exchange rate variations and by the rejection of the domestic currency. Our analysis underlines the fact that the current fear of inflation is largely groundless.

Keywords: Inflation; Hyperinflation; Post-Keynesian analysis; Structuralist analysis (search for similar items in EconPapers)
Date: 2021-10-03
New Economics Papers: this item is included in nep-cwa, nep-mac, nep-mon and nep-pke
Note: View the original document on HAL open archive server: https://hal.science/hal-03363240
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://hal.science/hal-03363240/document (application/pdf)

Related works:
Journal Article: Inflation regimes and hyperinflation: a Post-Keynesian/structuralist typology (2024)
Working Paper: Inflation regimes and hyperinflation: a Post-Keynesian/structuralist typology (2024)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:hal-03363240

Access Statistics for this paper

More papers in Working Papers from HAL
Bibliographic data for series maintained by CCSD ().