Böcker av Fernando de Holanda Barbosa

Macroeconomics is the application of economic theory to the study of the economy's growth, cycle and price-level determination. The price of money is the amount of goods bought with one unit of money, in other words, the inverse of the price level.

Macroeconomics is the application of economic theory to the study of the economy's growth, cycle and price-level determination. The price of money is the amount of goods bought with one unit of money, in other words, the inverse of the price level.

The previous hyperinflation models surveyed in this book attempt to explain hyperinflation as a bubble phenomenon because they assume a constant real deficit financed by money. The mechanics of hyperinflation models in this book explains hyperinflation by a fiscal crisis, characterized by an increasing fiscal deficit.