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World Inflation under Flexible Exchange Rates

In: Inflation Theory and Anti-Inflation Policy

Author

Listed:
  • Emil-Maria Claassen

    (University of Paris-Dauphine)

Abstract

Under a system of fixed exchange rates the phenomenon of inflation is a world phenomenon. This statement is derived from price-theoretical considerations with respect to the price formation of tradeable goods in the world goods market and it is independent of any explanation of inflation, whether it is Keynesian or monetarist, of a sociological or of any other type.

Suggested Citation

  • Emil-Maria Claassen, 1977. "World Inflation under Flexible Exchange Rates," International Economic Association Series, in: Erik Lundberg (ed.), Inflation Theory and Anti-Inflation Policy, chapter 9, pages 238-262, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-03260-0_9
    DOI: 10.1007/978-1-349-03260-0_9
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