The Resurgence of Inflation: Lessons from History and Policy Recommendations

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Michael Heine , Hansjörg Herr

Durable hardcover edition
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Number of Illustrations: 46 b/w illustrations, 5 illustrations in colour.
Page: 188
Springer
ISBN: 9783031527395

• Examines the German hyperinflation of the 1920s and the inflationary waves of the 1970s
• Provides case studies on inflationary waves in Germany, the US, Italy and the UK
• Discusses strategies and policies for effectively combating inflation and deflation

In light of the resurgence of inflation in developed industrialised countries following a period of inordinately low inflation, this book analyses the causes and devastating effects of inflation by drawing lessons from the past. Focusing on the German hyperinflation of the 1920s and the inflationary waves of the 1970s, it examines the resulting economic crises and their influence on the subsequent periods of social and political turmoil, namely the fascism of the 1930s and the neoliberal revolution of the 1980s. Featuring five detailed case studies on inflationary waves in various countries in the 1970s, the book identifies economic policy errors of the past, seeking to prevent their recurrence. Offering empirical and theoretical insights alike, the authors present strategies for effectively combating inflation and deflation. In turn, the book assesses the complex ties between wage increases, income distribution, and price changes, ultimately providing valuable recommendations on how wage policy can be used to stabilise price level increases at a low level in a world characterised by diverse and extreme economic shocks.

“The Resurgence of Inflation” fosters a vital discourse on wage and price dynamics, economic development and the role of trade unions, making it an essential read for policymakers, economists, and anyone seeking a deeper understanding of today’s economic challenges.

• Links to case studies or historical economic data sources like Federal Reserve Economic Data (FRED).
• Relevant economic research articles or websites such as The National Bureau of Economic Research (NBER).

Authors and Affiliations

Michael Heine

Keywords:

Inflation, productivity-oriented wage development, Monetary policy, Income policy, Macroeconomics, Wage bargaining systems, Inflationary waves, wage policy, inflationary price shocks, German hyperinflation, public debt, GDP growth, Fiscal policy, Deflation, Great Depression, Central bank policy, Financial crisis, Euro crisis, Covid-19 pandemic, Stagflation

Target Audience:
Economists, policymakers, financial analysts, academic researchers, university professors, economic students, central bank staff, financial journalists, economic historians, think tanks.

Genre:
Economic studies, financial policy, monetary policy, historical analysis, academic research, inflation studies, economic development, macroeconomics, financial history, non-fiction.