We construct inflation pressure indicators based on the long-run relationship that exists between monetary aggregates and prices, once it is adequately adjusted to account for the scale of transactions, as well as the opportunity cost of holding money. To that end, an extensive long-run...

This article summarizes the original formulation of Walras’s tâtonnement —just for the cases of the theories of exchange and production— as it was first developed in the different editions of the Éléments d’économie politique pure. The article also surveys critically the most...

We construct inflation pressure indicators based on the long-run relationship that exists between monetary aggregates and prices, once it is adequately adjusted to account for the scale of transactions, as well as the opportunity cost of holding money. To that end, an extensive long-run...