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Reading Group Recurring Meeting
The Price Level and the Inflation Rate
Location:
Online
Type:
Other
YSI Presenters
Description
The price level is the average price of goods in terms of money. As Perry Mehrling's money view emphasizes, the price level also implies a price of money in terms of goods. But what determines the price level? Why is the price level important? And how does the price level fit into the rest of the money view?
This week, we will discuss a 2016 article by Richard Vague entitled "Rapid Money Supply Growth Does Not Cause Inflation."
https://www.ineteconomics.org/perspectives/blog/rapid-money-supply-growth-does-not-cause-inflation
He also says, "Neither do rapid growth in government debt, declining interest rates, or rapid increases in a central bank’s balance sheet." Is Vague right? If none of those things cause inflation, then what does cause inflation. Or, more importantly what kinds of forces prevent inflation and keep the price level stable?
Our weekly standing video meeting time is 9 am Eastern Time (America/New York) every Saturday.
See our Discord server for ongoing discussion: https://discord.gg/YKHZJR8sKc
Hosted by Working Group(s):
Organizers
Attendees
Alex Howlett
Nathalie Marins
Jim Bramlett
Zach Kopelman
Steffen Murau
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