精品课件货币金融学版英文课件ch大学课.pptVIP

? 2005 Pearson Education Canada Inc. ? 2005 Pearson Education Canada Inc. ? 2005 Pearson Education Canada Inc. Chapter 27 Money and Inflation ? 2005 Pearson Education Canada Inc. 第一页，共十九页。 Money and Inflation: The Evidence “Inflation is Always and Everywhere a Monetary Phenomenon” (M. Friedman) Evidence In every case when ? high for sustained period, M growth is high Examples: 1. Latin American inflations 2. German Hyperinflation, 1921–23 Controlled experiment, particularly after 1923 invasion of Ruhr—government prints money to pay strikers, ? 1 million % Meaning of “inflation” Friedman’s