piero sraffa wrote an article on war finance titled how to pay for the war.
piero sraffa wrote an article on war finance titled how to pay for the war.
who wrote an article on war finance titled how to pay for the war?
piero sraffa
inflationary gap









































an inflationary gap, in economics, is the amount by which the actual gross domestic product exceeds potential full-employment gdp. it is one type of output gap, the other being a recessionary gap.









































section::::overview.









































the concept of the inflationary gap was first given by john maynard keynes in his work "how to pay for war? (1940)" this method was basically employed to study and solve problems regarding war finance. keynes starts the analysis of the inflationary gap from the level of full employment equilibrium whereas his other analyses are based on under-employment equilibrium.









































section::::mechanism.
inflationary gap
national war finance committee









































the national war finance committee was set up in canada in december 1941 by the department of finance. it was initially chaired by george wilbur spinney, president of the bank of montreal, and later by graham towers, the governor of the bank of canada. the committee was responsible for raising war financing through the sale of victory bonds. prior to the committee's establishment, war financing was the responsibility of the department of finance.
national war finance committee