Understanding Inflation and Controlling It

Kaushik Basu and C Marks

Working Papers from eSocialSciences

Abstract: Inflation management is one of the hardest tasks an economic policymaker has to undertake. It appears, at first sight, that one can rely entirely on commonsense to carry out this task. But that will be a cardinal mistake. While inflation policy does require judgment and intuition, it is essential that these be backed up with statistical information and an understanding of economic theory. This paper tries to bring together the formal analytics that underlie inflation policy. It surveys some of the standard ideas and also questions some of these and, in the process, tries to push further outwards the frontiers of our understanding.

Keywords: inflation; economic theory; policy; statistical information; management; policymaker; India; inclusive development; policy; Indian economy; prices; labour; goods; mediums of exchange; data collection; theoretical research; Europe (search for similar items in EconPapers)
Date: 2011-09
Note: Institutional Papers
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://www.esocialsciences.org/Download/repecDownl ... &AId=4481&fref=repec

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ess:wpaper:id:4481

Access Statistics for this paper

More papers in Working Papers from eSocialSciences
Bibliographic data for series maintained by Padma Prakash ().