PSL Quarterly Review (Nov 2013)
Bedrock in the money wage - money supply inflation controversy
Abstract
The article reviews the different views on the causes of inflation between the two leading macroeconomic paradigms - the Monetarist and the post Keynesian. By analysing the explicit and implicit assumptions underlying the two approaches, the author concludes that a full employment policy compatible with stable prices requires the synchronisation of both monetary and income policy. JEL: E31, E12, E13
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