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The proposed approach, based on the 'extra money' view, departs from the circuit of capital and the endogeneity of credit money in order to explain inflation in inconvertible paper money systems.
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According to johnson, 1972, inflation is just defined as uninterrupted rise in general-purpose price level.
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Section 2 covers the literature review connected determinants of interest group rates.
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Last Update: Oct 2021
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