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Inflation without a quantity of money: a simple Wicksellian model outlined

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Author Info
William Coleman

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Abstract

The paper advances a simple and tractable Wicksellian model of inflation, in which the price level is determined by the interaction of the nominal rate of return on capital with a rule that governs the interest rate at which the Central Bank supplies money, and in which the equality of the supply of money with its demand has no explanatory role to play.

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File URL: http://econrsss.anu.edu.au/pdf/DP557.pdf
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Publisher Info
Paper provided by Centre for Economic Policy Research, Research School of Social Sciences, Australian National University in its series CEPR Discussion Papers with number 557.

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Date of creation: Jul 2007
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Handle: RePEc:auu:dpaper:557

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Web page: http://econrsss.anu.edu.au/
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Related research
Keywords: Wicksell inflation monetary policy central banks

Find related papers by JEL classification:
E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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This page was last updated on 2008-7-24.

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