The Control of Inflation by Monetary and Credit Policy

Jacques Rueff

Chapter Chapter 11 in Inflation, 1962, pp 164-184 from Palgrave Macmillan

Abstract: Abstract Inflation is an excess of aggregate demand over aggregate supply. But it is not easy to demand more than one supplies. To do so, one must be able to spend more than one’s income, and, unless one is prepared to reduce one’s cash holdings, this means obtaining monetary resources (either actual cash or bank credit) in ways other than by selling goods or services. In general, these extra resources are obtained through bank loans.

Keywords: Discount Rate; Fiscal Policy; Aggregate Demand; Market Rate; Cash Holding (search for similar items in EconPapers)
Date: 1962
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DOI: 10.1007/978-1-349-08455-5_11

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