Cost Inflation and Price Inflation

Romar Correa

South Asian Journal of Macroeconomics and Public Finance, 2012, vol. 1, issue 1, 15-24

Abstract: The distinction between costs and prices aggregates into the conflict between wages and profits in a macro-accounting framework. We exploit the Godley and Lavoie (2007) framework to derive a dynamical system in the variables. Deflation in at least one price is both necessary and sufficient for stability of the system.

Keywords: Class conflict; deflation; narrow banking; E12; E31; E42; E64 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:sae:smppub:v:1:y:2012:i:1:p:15-24

DOI: 10.1177/227797871200100103

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