Titlebook: Inflation: Theory and Policy; A. J. Hagger Book 1977 A. J. Hagger 1977 flat.Inflation.policy

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Policy Against Inflation: Prices and Incomes Policy,ond. The second possibility — favourable modification of the structure of the model — itself embraces two sub-possibilities, which go by the names ‘prices and incomes policy’ and ‘manpower policy’. We shall devote this chapter to the former and Chapter 9 to the latter.

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Definition and Measurement,f these other problems than to have no inflation at all coupled with a somewhat larger dose of these other problems? If so, how large is the ‘certain degree’ of inflation that will have to be tolerated if the undesirable consequences of restraining inflation are to be kept within desirable limits?

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Models of the Inflationary Process in Developed Economies,r at least of keeping it within prescribed bounds. Clearly, however, we cannot hope to say anything useful about possible ways of curbing inflation until we know why it occurs. We must begin, therefore, by considering the question of the causes of inflation. This is our task in the present chapter.

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Tests of Inflation Models,mpt to capture the essence of the inflationary situation in such economies. The Keynesian model is based on the view that the essence of the inflationary situation in economies such as the U.S., the U.K. and the Australian economies is the rigidity of output in the face of rising demand. To the auth