INFLATION, REDISTRIBUTION OF FACTORS AND UNEMPLOYMENT: ILLUSTRATED BY THE CASE OF FRANCE

Jean Marczewski

Review of Income and Wealth, 1978, vol. 24, issue 3, 283-311

Abstract: This paper examines the causes and consequences of the inflationary process in terms of its impact upon the national accounting flows, illustrated by the case of France during the period 1966–76. The first section of the paper discusses the apparent causes of inflation, and lays out the circuits through which inflation is propagated. The second section looks behind the apparent causes to examine more closely the reasons for the observed behavior. The final section considers the consequences of inflation in terms of factor allocation, and in turn its impact upon unemployment, the balance of payments, and the rate of growth.

Date: 1978
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