Oil-push inflation: a broader examination

Authors

  • P. GRAY

DOI:

https://doi.org/10.13133/2037-3643/10725

Keywords:

Oil-push, inflation, monetary aggregates, exchange rates, food prices, wages

Abstract

The work broadens the concept of oil-push inflation by introducing the possibility of inflation-impeti deriving from other primary product sectors. The author argues that strict monetary analysis is less appropriate to analysis of a situation in which real variables assume new magnitudes than to a situation in which monetary aggregates change without any spontaneous changes in real variables. The effects of changes in exchange rates of currencies and changes in food prices and costs within different nations are introduced. The mechanism by which nominal wage-rates increase and the implications of this mechanism for the inflationary process are then considered.


JEL: E31

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Published

2013-10-11

How to Cite

GRAY, P. (2013). Oil-push inflation: a broader examination. PSL Quarterly Review, 34(136). https://doi.org/10.13133/2037-3643/10725

Issue

Vol. 34 No. 136 (1981)

Section

Editorial

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