Money and Inflation: A New Macroeconomic Analysis
'Reading Rossi's book is . . . fascinating and refreshing, and highly worthwhile.' - Heinrich Bortis, Journal of Economic Studies 'It is one of Rossi's merits that his book moves from a critical to a positive analysis of inflation. . . the reader is thus taken on a stimulating journey where well-established "truths" are challenged on logical and factual grounds.' - from the Foreword by Mauro Baranzini and Alvaro Cencini It is a popular notion that money and output are separate and autonomous entities. Money and Inflation argues that this idea can neither explain the purchasing power of money nor its variations over time, and a new theory is therefore presented in its place.
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Advisory Commission aggregate price Albeuve analysis of inflation analytical approach assets bank deposits banking system behaviour bias bookkeeping capital accumulation Cencini central bank Chapter claim Commission to Study commodity concept Consumer Price Index consumption current output defined Desai Deutsche Bundesbank economic agents economists Edward Elgar emission empty money entry equation of exchange existing expenditure fact factor market fiat money firms fixed capital framework Friedman fundamental ibid income holders increase index number inflation analysis inflationary gap issue Keynes Keynes's Keynesian labour Lord Desai macroeconomic market basket methodological models monetarist monetary economics monetary theory money and output money supply money units national economy national income neoclassical newly produced numeraire period power of money price index analysis price level problem product market purchasing power quantity theory relationship between money Schmitt sector Study the Consumer t]he theoretical theory of money total demand transactions wage bill whole workers