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Recent Developments in the Theory of Inflation and Unemploy
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actual adjustment allowed analysis argument assets assumed authorities average balance bank borrowing capital cause cent changes commodity concerned consumer costs countries currency curve deficit demand depends determined discussion distribution domestic economy effect equation equilibrium example excess exchange rates existence expansion expectations expenditure explain fact figure firms fixed flexible function given groups growth higher important income increase indexed bonds individual industries inflation rate inflationary interest issue labour lead less linked means monetary money supply natural needed nominal output particular payments perhaps period political positive possible present pressure price level problem productivity Professor profits question raise rate of inflation reason recent reduce relative prices reserves result rise role sector shift social stability suggested theory tion trade unemployment United variables wage wanted welfare