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Is inflation a monetary phenomenon only? A non monetarist episode of inflation: the italian case

  • Giancarlo Bertocco

Is Inflation a Monetary Phenomenon Only? A Non Monetarist Episode of Inflation: The Italian Case (di Giancarlo Bertocco) - ABSTRACT:The publication of the second edition of Fratianni and Spinelli’s Monetary History of Italy offers the opportunity to analyze the causes behind the inflation pattern in Italy in the three decades preceding the entry of the country in the European Monetary Union. This paper has two objectives. The first consists in showing the limits of the explanation of Italian inflation based on the monetarist theory; the second consists in providing an alternative explanation whereby the pattern of Italian inflation basically depends on the trend of production costs and on the behavior of companies in connection with mark-up definition.

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Article provided by FrancoAngeli Editore in its journal STUDI ECONOMICI.

Volume (Year): 2002/78 (2002)
Issue (Month): 78 ()

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Handle: RePEc:fan:steste:v:html10.3280/ste2002-078002
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  1. Mishkin, F.S., 1998. "International Experiences with Different Monetary Policy Regimes," Papers 648, Stockholm - International Economic Studies.
  2. John B. Taylor, 1999. "Monetary Policy Rules," NBER Books, National Bureau of Economic Research, Inc, number tayl99-1, July.
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  4. repec:cup:cbooks:9780521443159 is not listed on IDEAS
  5. David H. Romer, 2000. "Keynesian Macroeconomics without the LM Curve," Journal of Economic Perspectives, American Economic Association, vol. 14(2), pages 149-169, Spring.
  6. Allan H. Meltzer, 2001. "Money and monetary policy: an essay in honor of Darryl Francis," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 23-32.
  7. McCallum, Bennett T., 1999. "Issues in the design of monetary policy rules," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 23, pages 1483-1530 Elsevier.
  8. Cukierman Alex, 1992. "Central Bank Strategy, Credibility, And Independance: Theory And Evidence," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 3(4), pages 10, December.
  9. George T. McCandless, Jr. & Warren E. Weber, 1995. "Some monetary facts," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Sum, pages 2-11.
  10. Sun Bae Kim, 1991. "The independence of central banks," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue dec13.
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