Carnegie Mellon University
Prices Interest Rates Actual and Anticipated Inflation: A Theor.pdf.pdf' (867.09 kB)

Prices, Interest Rates, Actual and Anticipated Inflation: A Theory and Some Evidence

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journal contribution
posted on 2009-11-01, 00:00 authored by Allan MeltzerAllan Meltzer

The relations between money, prices, interest rates and inflation form the core of classical and neo-classical monetary theory. Changes in money affect the price level permanently and the rate of interest only during the transition from one equilibrium to the next. Changes in the rate of inflation affect market interest rates and possibly real rates as well.


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