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Origine et persistance de l'inflation : quelques enseignements de l'histoire

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  • Maxime Menuet

Abstract

This article reviews some of the main economic ideas on inflation and relates them to historical events. We show that the period from the 15th to the 20th century was not a long triumphal road for quantitative theory. A study of the 20th century suggests that inflation can be the consequence of wars, of price controls in times of crisis, or distributional conflicts in society. In addition, we focus on some stylized facts, such as the significance of anchoring household expectations or the impact of fiscal policy. Finally, we underline the failure of current macroeconomic theory to understand the origins and the persistence of inflation. JEL classification: E31, E62, N1.

Suggested Citation

  • Maxime Menuet, 2024. "Origine et persistance de l'inflation : quelques enseignements de l'histoire," Revue d'économie financière, Association d'économie financière, vol. 0(1), pages 33-48.
    • Handle: RePEc:cai:refaef:ecofi_153_0033
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    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations

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