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Inflation Regimes and Hyperinflation. A Post-Keynesian/Structuralist typology

Abstract : The article proposes a typology of inflation regimes that can be applied to any kind of economy based on the Post-Keynesian and structuralist literature. We identify three separate regimes: the low, moderate, and high inflation regimes. Hyperinflation is also defined and described. Each regime presents different characteristics. We identify the key role played by the distributive conflict between workers and capitalists in all the regimes, the role played by the indexation of wages on domestic prices in the moderate and high inflation regimes, and the specific roles played by the widespread indexation on a short term basis in the high inflation regime. Hyperinflation is explained by selffulfilling prophecies about exchange rate variations and by the rejection of the domestic currency. Our analysis underlines the fact that the current fear of inflation is largely groundless.
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Preprints, Working Papers, ...
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Contributor : Jonathan Marie Connect in order to contact the contributor
Submitted on : Sunday, October 3, 2021 - 4:20:16 PM
Last modification on : Wednesday, October 27, 2021 - 4:16:16 PM


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  • HAL Id : hal-03363240, version 1


Sébastien Charles, Eduardo Bastian, Jonathan Marie. Inflation Regimes and Hyperinflation. A Post-Keynesian/Structuralist typology. 2021. ⟨hal-03363240⟩



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