Inflation, stagflation, relative prices, and imperfect information / Alex Cukierman.

Preface, xi -- A general overview, 1 -- Part I: Aggregate-relative confusion, 11 -- 2. Asymmetric information in economics and the information conveyed by prices and other signals, 13 -- 3. Aggregate-relative confusion: implications for the Phillips curve, 35 -- 4. Aggregate-relative confusion: implications for the distribution of inflationary expectations and for inflation uncertainty, 53 -- 5. Implications of inflation uncertainty and differential inflationary expectations for the bond market and its allocative efficiency, 69 -- 6. Aggregate-relative confusion: implications for relative price variability, 84 -- 7. Place of the aggregate-relative confusion within the economics of asymmetric information: some concluding reflections, 107 -- Part II: Permanent-transitory confusion, 113 -- 8. Permanent-transitory confusion and other reasons for persistence: overview, 115 -- 9. Permanent-transitory confusion: implications for stagflation and the persistence of unemployment, 123 -- 10. Permanent-transitory confusion: implications for monetary policy and the efficiency of the price system, 145 -- 11. Permanent-transitory confusion: implications for relative price variability and inflation, 166 -- Notes, 175 -- Glossary of symbols, 183 -- References, 190 -- Index, 198.