Inflation

I just posted a draft of a short book with this title, resulting from the Karl Brunner Lecture I gave last fall. It covers fiscal theory through the eyes of many episodes including the recent inflation and zero bound era. It also summarize work I’ve been doing since trying to figure out a basic theory of how central banks might lower inflation going forward by raising interest rates. Believe it or not, we do not have such a theory. The foundations of monetary economics are wide open.

Here is a table of contents to whet your appetite. Comments welcome, it needs one last big revision before I turn it in to the publisher.

I realize I never posted the actual lecture. If you like videos, here it is.