The political-fiscal origin of inflation
Keywords:
fiscal policy, inflation, Argentina, Monetary trilemmaAbstract
In this paper we intend to explain the foundations of the current inflationary process faced by the Argentine economy and in turn recommend courses of action to attack this phenomenon. In point two of the present work we propose the debate of ideas in terms of the origin of the current inflation. Basically, we present two opposite positions. On the one hand, there are those that explain the process from the structural hypothesis of inflation. On the other hand, we present the position that conceives inflation as a phenomenon associated with the Monetary Trilemma.
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References
Milei, J. (2004): “Real Exchange Rate Targeting: ¿Trilema Monetario o Control de Capitales? La Política Fiscal”, Revista de Economía y Estadística de la UNC
Milei, J. (2005.a): “Real Exchange Rate Targeting: El Límite de La Política Fiscal”, Jornadas Internacionales de Finanzas Públicas, UNC
Milei, J., Mercadier, A. (2005.b): “Real Exchange Rate Targeting: El Uso y Los Límites de La Política Fiscal”, Reunión Anual de la AAEP, UNLP.
Mundell, R. (1962): “The Appropriate Use of Monetary and Fiscal Policy for Internal and External Stability”; IMF
Staff Papers 9, 70-6.
Tinbergen, J. (1952): On the Theory of Economic Policy, Ed. North Holland.
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