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Inflation Policy and Unemployment Theory: The Cost-Benefit Approach to Monetary Planning - Softcover
Synopsis
A major advance toward understanding the forces that lead to inflation and unemployment, this study takes a cost-benefit approach to monetary planning. Professor Phelps views a reduction of inflation by monetary means as a social investment and argues that such an investment must be subjected to cost-benefit tests. By extending his analysis into questions of efficiency and resource allocation, he integrates the modern microeconomic theory of unemployment with the theory of optimal inflation. Another element of the analysis, the doctrine of optimum liquidity, is reassessed and found to require important revisions.
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- PublisherW. W. Norton & Company
- Publication date1972
- ISBN 10 0393330575
- ISBN 13 9780393330571
- BindingPaperback
- LanguageEnglish
- Number of pages352
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Inflation Policy and Unemployment Theory: The Cost-Benefit Approach to Monetary Planning
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Inflation Policy and Unemployment Theory (Paperback)
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WW Norton & Co, New York, 2020
ISBN 10: 0393330575
ISBN 13: 9780393330571
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Paperback. Condition: new. Paperback. A major advance toward understanding the forces that lead to inflation and unemployment, this study takes a cost-benefit approach to monetary planning. Professor Phelps views a reduction of inflation by monetary means as a social investment and argues that such an investment must be subjected to cost-benefit tests. By extending his analysis into questions of efficiency and resource allocation, he integrates the modern microeconomic theory of unemployment with the theory of optimal inflation. Another element of the analysis, the doctrine of optimum liquidity, is reassessed and found to require important revisions. A major advance toward understanding the forces that lead to inflation and unemployment, this study takes a cost-benefit approach to monetary planning. Professor Phelps views a reduction of inflation by monetary means as a social investment and argues that such an investment must be subjected to cost-benefit tests. By extending his analysis into questions of efficiency and resource allocation, he integrates the modern microeconomic theory of unemployment with the theory of optimal inflation. Another element of the analysis, the doctrine of optimum liquidity, is reassessed and found to require important revisions. This item is printed on demand. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9780393330571
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Inflation Policy and Unemployment Theory
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Inflation Policy and Unemployment Theory
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Inflation Policy and Unemployment Theory: The Cost-Benefit Approach to Monetary Planning
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Inflation Policy and Unemployment Theory: The Cost-Benefit Approach to Monetary Planning
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ISBN 10: 0393330575
ISBN 13: 9780393330571
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Inflation Policy and Unemployment Theory: The Cost-Benefit Approach to Monetary Planning
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Inflation Policy and Unemployment Theory The CostBenefit Approach to Monetary Planning
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