ABSTRACT

This title, first published in 1965, provides an analysis of the forces and mechanisms governing the formation of the overall level of money prices. Even though this problem has a long history, and in spite of its obvious practical importance, it remains one of the most poorly understood questions in economic theory. This title will be of interest to students of monetary economics and the history of economic thought.

chapter Lecture 20|18 pages

A Model of the Price-production Cycle

chapter Lecture 21|23 pages

The Hyperinflationary Case

chapter Lecture 22|14 pages

Rates of Exchange