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OverviewA major advance toward understanding the forces that lead to inflation and unemployment, this study takes a cost-benefit approach to monetary planning. Professor Phelps views a reduction of inflation by monetary means as a social investment and argues that such an investment must be subjected to cost-benefit tests. By extending his analysis into questions of efficiency and resource allocation, he integrates the modern microeconomic theory of unemployment with the theory of optimal inflation. Another element of the analysis, the doctrine of optimum liquidity, is reassessed and found to require important revisions. Full Product DetailsAuthor: Edmund S. PhelpsPublisher: WW Norton & Co Imprint: WW Norton & Co Dimensions: Width: 12.70cm , Height: 2.00cm , Length: 20.30cm Weight: 0.381kg ISBN: 9780393330571ISBN 10: 0393330575 Pages: 352 Publication Date: 15 September 2020 Audience: General/trade , General Format: Paperback Publisher's Status: Active Availability: To order  Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us. Table of ContentsReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |
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