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 r…
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 r…
These essays explain why financial crisis breaks out, its social, economic and cultural consequences, and the limitations of policy in the face of economic stagnation induced by financial inflation.
These essays explain why financial crisis breaks out, its social, economic and cultural consequences, and the limitations of policy in the face of economic stagnation induced by financial inflation.
The essays in this volume explain how financial inflation shifts banking and financial markets towards more speculative activity, changing the financial structure of the economy and corroding the social and political values that underlie welfare state capitalism.