Inflation is driven by structural and institutional factors beyond the monetary mechanisms identified by Friedman
The retrieved evidence strongly supports the claim that inflation is shaped by structural, institutional, and cost-push factors—such as supply shocks, exchange rates, and profit-mark-up dynamics—beyond strict monetary mechanisms.
The claim is specific and empirical, dealing with economic theories of inflation. Papers 0, 6, and 9 provide direct empirical and historical support showing that inflation is driven by non-monetary mechanisms such as cost-push pressures, supply disruptions, structural exchange rates, and distributional conflicts. No papers contradict this premise.
Norikazu Takami. The Baffling New Inflation: How Cost-Push Inflation Theories Influenced Policy Debate in the Late-1950s United States. 2015. https://doi.org/10.1215/00182702-3321336
Paper 0 documents historical cost-push inflation theories emphasizing autonomous increases in wages and production costs beyond mere excess aggregate demand.
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Indalmanie SP. Determinants of Inflation in Jamaica. 2023. https://doi.org/10.2139/ssrn.4454069
Paper 6 finds empirical evidence that structural factors such as exchange rates, agricultural output, government expenditure, and oil prices significantly drive inflation.
utku altunöz. Monetary Tightening without Disinflation: A Post-Keynesian Account of Cost-Push Pressures, Mark-Up Dynamics, and Conflict Inflation. 2026. https://doi.org/10.21203/rs.3.rs-8882496/v1
Paper 9 provides a post-Keynesian account demonstrating that inflation is heavily driven by cost propagation, mark-up dynamics, and distributional conflict rather than solely monetary mechanisms.
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