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An Economist in the Real WorldThe Art of Policymaking in India$
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Kaushik Basu

Print publication date: 2015

Print ISBN-13: 9780262029629

Published to MIT Press Scholarship Online: September 2016

DOI: 10.7551/mitpress/9780262029629.001.0001

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Inflation: The Emperor of Economic Maladies

Inflation: The Emperor of Economic Maladies

Chapter:
(p.45) 3 Inflation: The Emperor of Economic Maladies
Source:
An Economist in the Real World
Author(s):

Kaushik Basu

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262029629.003.0003

Inflation was a major concern during the three years that the book covers in extra detail. But the economics of inflation and the science of monetary and fiscal policy, especially in an emerging economy, are inadequately understood. The chapter provides a dissection of monetary policy including some conundrums of how to control inflation while keeping growth up.

Keywords:   Inflation, Hyperinflation, interest rates, central bank policy

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