| Inflation, Stagflation, Relative Prices, and Imperfect Information Contributor(s): Cukierman, Alex (Author) |
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ISBN: 0521070848 ISBN-13: 9780521070843 Publisher: Cambridge University Press OUR PRICE: $39.89 Product Type: Paperback - Other Formats Published: August 2008 Annotation: This book surveys the imperfect-information approach to inflation and its real effects. |
| Additional Information |
| BISAC Categories: - Business & Economics | Inflation - Business & Economics | Economics - Macroeconomics |
| Dewey: 332.41 |
| Physical Information: 0.5" H x 6" W x 9" (0.72 lbs) 220 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: This book surveys the imperfect-information approach to inflation and its real effects. Two types of informational limitation are considered. One involves situations in which individuals have asymmetric information about the current general price level and consequently confuse relative and aggregate changes in prices. The other considers situations in which individuals cannot distinguish permanent from transitory changes as soon as they occur, creating a temporary but persistent confusion between such changes. The author presents the arguments within the context of the recent re-evaluations by economists of previously established views concerning inflation and its interaction with real phenomena. |