 Internal Factors Causing and Propagating Inflation: IGottfried Haberler
Chapter Chapter 2 in Inflation, 1962, pp 19-36 from Palgrave Macmillan Abstract: Abstract Many different factors and policies have been made responsible for inflation. Let me mention a few. Some say aggregate demand rising faster than aggregate supply ‘pulls up’ prices and wages. The rise in demand in turn may be due to a government deficit (government inflation) or to an expansion of bank credit for private investment (credit expansion) or rising demand from abroad (imported inflation) or an increase in gold production (gold inflation). Others say prices are being ‘pushed up’ by wage increases forced upon the economy by labour unions under threat of strike ; or costs may be raised by business monopolies (administered-price inflation). To these positive factors can be added negative ones — for example, the failure of over-all output to grow, or of savings to stay on their ‘normal’ level — factors for which, in turn, different causes can be found. It is not difficult to think of conditions under which one or the other of these hypotheses would be valid, or to provide actual examples of several of them from recent economic history. Keywords: Labour Union; Aggregate Demand; Wage Increase; Monopoly Power; Price Rise (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-08455-5_2 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-08455-5_2 Access Statistics for this chapter More chapters in International Economic Association Series from Palgrave Macmillan |
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