Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/324120 
Authors: 
Year of Publication: 
2024
Citation: 
[Journal:] PSL Quarterly Review [ISSN:] 2037-3643 [Volume:] 77 [Issue:] 311 [Year:] 2024 [Pages:] 439-468
Publisher: 
Associazione Economia civile, Rome
Abstract: 
This article offers a critical review of the post-pandemic inflation debate. The first section organizes the debate by categorizing the arguments into two broad perspectives: the neoclassical view and the critical political economy view, along with several subcategories. This classification is guided by the positions that participants in the debate took regarding the origins and propagation mechanisms of inflation, as well as the economic policy solutions proposed to address the current inflationary period. The second section highlights that the dominance of contractionary monetary policy as the primary response to contemporary inflation rests on weak foundations, with its theoretical and empirical justifications having been consistently and convincingly challenged by critical political economy circles over the past decades.
Subjects: 
central banks
critical political economy
inflation
monetary policy
Neoclassical economics
pandemic
JEL: 
E12
E31
E32
E52
E61
E64
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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