Display:
I am not sure that the distinction between macro and meso inflation is particularly useful.

I think that macro and meso inflations together combine as "fiscal" (government driven) inflation, whereas "micro" inflation may be characterised as a "monetary" (private banking sector driven) inflation.

I suspect that in a deficit-based economy at least hyperinflation may everywhere and always be a fiscal phenomenon.

Monetary inflation on the other hand, always leads to asset price bubbles, but I would be interested in recent examples of where these have led to hyper inflation - it seems to me that people borrowing against inflated assets is the sign of a deficiency of money, not a surfeit of it (Anglo Disease again).

"Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky

by ChrisCook (cojockathotmaildotcom) on Mon Mar 3rd, 2008 at 05:23:19 AM EST
[ Parent ]
Brilliant Diary by the way, NBB.

"Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
by ChrisCook (cojockathotmaildotcom) on Mon Mar 3rd, 2008 at 05:25:53 AM EST
[ Parent ]

Display:
Login
. Make a new account
. Reset password
Recommended Diaries
Clipping the wings of a judge
by Migeru - Feb 10
31 comments

Hunger March wins PR battle
by DoDo - Feb 9
3 comments

Romania: protests change government
by DoDo - Feb 8
6 comments

Sarkozy: Enemies Ahoy!
by afew - Feb 10
17 comments

Murdoch - Outsourcing and Hubris
by ceebs - Feb 3
18 comments

Obama wins GOP Primaries (to date)
by Frank Schnittger - Feb 8
8 comments

LQD: Unsustainable irrigation
by Melanchthon - Feb 9

Bristol Pound
by ChrisCook - Feb 7
14 comments

Recent Diaries
Sarkozy: Enemies Ahoy!
by afew - Feb 10
17 comments

Clipping the wings of a judge
by Migeru - Feb 10
31 comments

LQD: Unsustainable irrigation
by Melanchthon - Feb 9

Hunger March wins PR battle
by DoDo - Feb 9
3 comments

Obama wins GOP Primaries (to date)
by Frank Schnittger - Feb 8
8 comments

Romania: protests change government
by DoDo - Feb 8
6 comments

Answers to the Renewable Energy Consultation
by Luis de Sousa - Feb 7

Bristol Pound
by ChrisCook - Feb 7
14 comments

The Imitation Of Germany
by afew - Feb 4
31 comments

Strange Fruit
by Frank Schnittger - Feb 4
14 comments

Murdoch - Outsourcing and Hubris
by ceebs - Feb 3
18 comments

Mismatch with the Natural Gas Market
by Luis de Sousa - Feb 3
22 comments

The Future of Economics
by ARGeezer - Feb 2
191 comments

Desert Island Discs - Helen's distortions
by Helen - Jan 31
48 comments

Gorila
by DoDo - Jan 29
14 comments

Rail News Blogging #7
by DoDo - Jan 29
15 comments

Obama's State Of The Union: LQD
by Crazy Horse - Jan 25
74 comments

Democracy Technology
by gmoke - Jan 24
1 comment

The Hydrogen dream
by Luis de Sousa - Jan 24
49 comments

ET Paris Meet-Up 2012 (2 UPDATE)
by afew - Jan 23
113 comments

More Diaries...
Occasional Series