Inflation Theory and Anti-Inflation Policy: Proceedings of a Conference held by the International Economic Association at Saltsjöbaden, Sweden

We economists construct models to help us in understanding better, and if possible measuring, the main effects of inflation on welfare, paying special attention to changes in income and wealth distribution. We observe and theorise about leads and lags in the price-wage spiral and like to emphasise effects from changing relative prices on profits as well as on profitability expectations. Consequences for investments, resource allocation and productivity may be considered among the welfare effects from an inflationary process. There are good possibilities of model building and theorising about these 1 Several of the contributions were presented at an earlier conference that also took place in Saltsjobaden. Front Matter....Pages i-xiv Front Matter....Pages 1-1 Inflation: a Review of the Issues....Pages 3-41 Recent Developments in the Theory of Inflation and Unemployment....Pages 42-71 Causes and Origins of the Current Worldwide Inflation....Pages 72-108 The Role of Money in the Inflation Analysis....Pages 109-134 Some Problems of Current Price Movements....Pages 135-150 Front Matter....Pages 151-151 International Aspects of Inflation....Pages 153-182 Policy Autonomy of Small Countries....Pages 183-208 Inflation and the Exchange Rate Regime....Pages 209-237 World Inflation under Flexible Exchange Rates....Pages 238-262 Front Matter....Pages 263-263 Inflation and Income Distribution....Pages 265-284 The Welfare Implications of Uneven Inflation....Pages 285-313 The Welfare Costs of Inflation in Neoclassical Theory—Some Unsettled Problems....Pages 314-337 Effects of Inflation on Public Revenue and Expenditure....Pages 338-349 The Growth of the Public Sector and Inflation Pressure....Pages 350-384 Front Matter....Pages 385-385 Indexation in Israel....Pages 387-416 A Re-evaluation of the Theory of Repressed Inflation in the Light of the Experience of Some Socialist Countries....Pages 417-444 Why have General Anti-inflation Policies not Succeeded?....Pages 445-470 Incomes Policies....Pages 471-487 Aspects of the Theory of Indexed Bonds....Pages 488-501 On the Non-existence of Privately Issued Index Bonds in the United States Capital Market....Pages 502-529 Front Matter....Pages 385-385 A Summing Up....Pages 530-538 Back Matter....Pages 539-545