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The Great Inflation
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The Great Inflation: The Rebirth of Modern Central Banking

Michael D. Bordo and Athanasios Orphanides

Abstract

Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This book focuses on understanding the causes of the Great Inflation of the 1970s and 1980s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has be ... More

Keywords: inflation, economic policy, price stability, policy makers, uncertainty, price-monitoring mechanisms, efficient planning, allocation of resources, productivity, Great Inflation

Bibliographic Information

Print publication date: 2013 Print ISBN-13: 9780226066950
Published to Chicago Scholarship Online: September 2013 DOI:10.7208/chicago/9780226043555.001.0001

Authors

Affiliations are at time of print publication.

Michael D. Bordo, editor

Athanasios Orphanides, editor

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