Money and Inflation

Nektarios Michail

Chapter Chapter 3 in Money, Credit, and Crises, 2021, pp 61-75 from Springer

Abstract: Abstract Following their exit from the gold standard, the US faced a beast the like of which it had not encountered in the past. In order to understand how banks impact the economy, we first need to elaborate on the connection between the commodity banks are producing, money, and the rest of the economy. After a brief overview of the concept of inflation, and the price level in general, an elaboration of the forces which impact the price level is made, both from the demand as well as from the supply side. Hyperinflation examples are overviewed, notably that of the Weimar Republic. The chapter ends with an elaboration on why the inflation rate should be stable, and prolonged deflationary or hyperinflationary periods are unwanted.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-64384-3_3

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DOI: 10.1007/978-3-030-64384-3_3

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