Emilio Ocampo and I recently finished a short paper on the recent thesis that Conflict is Inflation by Lorenzoni and Werning. We worry about three issues: The soundness of talking about inflation in a barter economy The lack of empirical relevance The policy implications of the Marxist roots of their model.
Is inflation caused by conflict?
Is inflation caused by conflict?
Is inflation caused by conflict?
Emilio Ocampo and I recently finished a short paper on the recent thesis that Conflict is Inflation by Lorenzoni and Werning. We worry about three issues: The soundness of talking about inflation in a barter economy The lack of empirical relevance The policy implications of the Marxist roots of their model.