Peter,
I agree that putting everything in terms of rates of
change really is preferable, especially on the price side.
I am not sure what happens then about the impact on real
interest rates of an increase in the rate of inflation.
However, in the simple (-minded) pure theory static case
Peter,
I agree that putting everything in terms of rates of
change really is preferable, especially on the price side.
I am not sure what happens then about the impact on real
interest rates of an increase in the rate of inflation.
However, in the simple (-minded) pure theory static case
