Coppola, Frances - In: European Journal of Economics and Economic Policies: … 18 (2021) 3, pp. 331-343
inflation is always due to an imbalance of money supply and output, central banks alone determine the path of inflation, and …For the last 40 years, macroeconomics has been dominated by Milton Friedman's view that inflation occurs when the … supply of money rises more quickly than economic output – 'too much money chasing too few goods', as the saying goes. If …