Inflation run riot

Inflation and Relative Price Variability: Short-Run vs. Long-Run

This paper uses recent developments in measuring correlation to examine the relationship between inflation and relative price variability. The results suggest that the positive correlation holds not only in the short-run but also in the long-run. This finding has important implications for theoretical models that purport to explain this relationship: such models must incorporate features that g...

The Long-Run Costs of Moderate Inflation

L ong-run price stability is generally considered to be a primary goal of monetary policymakers in many countries. One reason policymakers care about inflation is that it can harm economic performance. Numerous studies of the impact of inflation on economic performance have focused on whether increases in inflation reduce economic growth in the long run (Barro, Fischer 1993, Bruno and Easterly,...

Riot Surgery

Sir,?The statement made by Dr. A. IC. Basu in his article 'Experience of Riot Surgery' (I.M.G., August 1947, p. 465) that 'shock for some reasons is conspicuously absent in these cases in the first few hours (Som and Mukherjee, 1947). In my experience this is dangerous teachingis utterly untrue and misleading. We never said that shock was conspicuously absent in all cases. We said in summary th...

Riot Surgery

Riot Control Agents