Stabilization Policy and the Causes of Inflation

James Forder

Chapter Chapter 15 in Milton Friedman, 2019, pp 261-289 from Palgrave Macmillan

Abstract: Abstract It is noted that from the late 1960s, Friedman took a number of views on the question of why policymakers allowed inflation to persist. Some of his work was deeply theoretical, concerning the optimization of inflationary revenue raising. Others, including his case for indexation, were strikingly pragmatic. It is suggested that he abandoned what had been a distinctive argument in favour of indexation when he found he had no good answer to the point if there were cost-push inflation it could prove disastrous.

Date: 2019
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DOI: 10.1057/978-1-137-38784-4_15

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