Remembering Inflation

Today's global economy, with most developed nations experiencing very low inflation, seems a world apart from the "Great Inflation" that spanned the late 1960s to early 1980s. Yet, in this book, Brigitte Granville makes the case that monetary economists and policymakers need to keep the lessons learned during that period very much in mind, lest we

“"Granville recalls the inflation of the 1970s, which, she fears, is in danger of being forgotten in the wake of the recent financial crisis and the ongoing recession. She covers a wide swath of macroeconomics and takes in the causes of inflation, the relation between unemployment and inflation, the Phillips curve, the role of expectations, and much more. I don't know of any other book quite like this." --John Driffill, Birkbeck, University of London”

"[A] highly informative, well-written volume."--Choice "Granville presents stimulating ideas and proposals about inflation-targeting principles, which provide tools for present-day monetary authorities dealing with the forces of globalization, mercantilism, and reserve accumulation."--World Book Industry "[A]ny economist with an interest in inflation and in the theory and practice of monetary policy more generally would do quite well to read carefully the excellent study that Brigitte Granville has given us."--Peter N. Ireland, Journal of Economic Literature

Brigitte Granville is professor of international economics and economic policy at Queen Mary University of London. Her books include "Sovereign Debt: Origins, Crises, and Restructuring".

"Brigitte Granville has written a spirited and learned defense of how macroeconomic ideas can defeat inflation with sound monetary policy and inflation targeting. The success of these ideas is evident in persistently low inflationary expectations, which are now taken for granted. Yet Granville warns that monetary policy must not be overloaded because then its credibility may be undermined. Hers is a wonderfully and enlighteningly fresh look at inflation." --Anders slund, senior fellow, Peterson Institute for International Economics "Granville recalls the inflation of the 1970s, which, she fears, is in danger of being forgotten in the wake of the recent financial crisis and the ongoing recession. She covers a wide swath of macroeconomics and takes in the causes of inflation, the relation between unemployment and inflation, the Phillips curve, the role of expectations, and much more. I don't know of any other book quite like this." --John Driffill, Birkbeck, University of London "Granville has read almost everything and has a good eye for the central issues. I liked this book very much." --Thomas J. Sargent, Nobel Laureate in Economics

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