<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0124-5996</journal-id>
<journal-title><![CDATA[Revista de Economía Institucional]]></journal-title>
<abbrev-journal-title><![CDATA[Rev.econ.inst.]]></abbrev-journal-title>
<issn>0124-5996</issn>
<publisher>
<publisher-name><![CDATA[Universidad Externado de Colombia]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0124-59962023000100013</article-id>
<article-id pub-id-type="doi">10.18601/01245996.v25n48.03</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Esta no es la inflación de tus padres]]></article-title>
<article-title xml:lang="en"><![CDATA[This ain't your daddy's inflation]]></article-title>
<article-title xml:lang="pt"><![CDATA[Esta não é inflação dos seus pais]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Keen]]></surname>
<given-names><![CDATA[Steve]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,University College London  ]]></institution>
<addr-line><![CDATA[Londres ]]></addr-line>
<country>United Kingdom</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2023</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2023</year>
</pub-date>
<volume>25</volume>
<numero>48</numero>
<fpage>13</fpage>
<lpage>28</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0124-59962023000100013&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0124-59962023000100013&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0124-59962023000100013&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Este artículo hace un análisis teorético e histórico de la inflación en las economías monetarias de producción desde la Segunda Guerra mundial. Muestra que las interpretaciones "keynesianas" del trade off de la curva de Phillips y las monetaristas de las "expectativas inflacionarias" y la tasa natural de desempleo no establecieron la relación causal apropiada entre crédito y desempleo, y entre costos e inflación. Fue Hyman Minsky, un economista estadounidense, quien -siguiendo las ideas de Keynes y el enfoque de la moneda endógena bancaria- mostró que el aumento (o la reducción) del crédito es lo que explica la reducción (el aumento) del desempleo. El resurgimiento de la inflación en la actualidad se puede explicar con un enfoque kaleckiano en el que la reducción de la productividad es causa eficiente de una inflación que puede llegar a ser persistente. JEL: E12 y E13]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This paper provides a theoretical and historical analysis of inflation in monetary production economies since World War II. It shows that the "Keynesian" interpretations of the Phillips curve trade-off and the monetarist interpretations of "inflationary expectations" and the natural rate of unemployment did not establish the proper causal relationship between credit and unemployment, and between costs and inflation. It was Hyman Minsky, an American economist, who - following Keynes' ideas and the bank endogenous currency approach - showed that it is the increase (or reduction) in credit that explains the reduction (increase) in unemployment. The resurgence of inflation today can be explained by a Kaleckian approach in which the reduction of productivity is the efficient cause of an inflation that can become persistent. JEL: E12 y E13]]></p></abstract>
<abstract abstract-type="short" xml:lang="pt"><p><![CDATA[Resumo Este artigo fornece uma análise teórica e histórica da inflação nas economias de produção monetária desde a Segunda Guerra Mundial. Ele mostra que as interpretações "keynesianas" da curva de Phillips e as interpretações monetaristas das "expectativas inflacionárias" e da taxa natural de desemprego não estabeleceram a devida relação causal entre crédito e desemprego, e entre custos e inflação. Foi Hyman Minsky, um economista americano, que - seguindo as ideias de Keynes e a abordagem da moeda endógena do banco - mostrou que é o aumento (ou diminuição) do crédito que explica a redução (aumento) do desemprego. O ressurgimento da inflação hoje pode ser explicado por uma abordagem Kaleckian na qual a redução da produtividade é uma causa eficiente da inflação que pode se tornar persistente. JEL: E12 y E13]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[inflación]]></kwd>
<kwd lng="es"><![CDATA[keynesianismo]]></kwd>
<kwd lng="en"><![CDATA[inflation]]></kwd>
<kwd lng="en"><![CDATA[keynesianism]]></kwd>
<kwd lng="pt"><![CDATA[inflação]]></kwd>
<kwd lng="pt"><![CDATA[keynesianismo]]></kwd>
</kwd-group>
</article-meta>
</front><back>
<ref-list>
<ref id="B1">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Bernanke]]></surname>
<given-names><![CDATA[B.]]></given-names>
</name>
</person-group>
<source><![CDATA[Remarks to the Conference on Reflections on Monetary Policy 25 Years after October 1979]]></source>
<year>2004</year>
<publisher-loc><![CDATA[Louis ]]></publisher-loc>
<publisher-name><![CDATA[Federal Reserve Bank of St]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B2">
<nlm-citation citation-type="">
<collab>FOMC</collab>
<source><![CDATA[Transcript of Federal Open Market Committee Meeting]]></source>
<year>1979</year>
</nlm-citation>
</ref>
<ref id="B3">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Friedman]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The optimum quantity of money]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Friedman]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
</person-group>
<source><![CDATA[The optimum quantity of money and other essays]]></source>
<year>1969</year>
<page-range>1-50</page-range><publisher-loc><![CDATA[Londres ]]></publisher-loc>
<publisher-name><![CDATA[Macmillan]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B4">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Krugman]]></surname>
<given-names><![CDATA[P.]]></given-names>
</name>
</person-group>
<source><![CDATA[Why markets shrugged off bad inflation news]]></source>
<year>2022</year>
<publisher-name><![CDATA[New York Times]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B5">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Michaux]]></surname>
<given-names><![CDATA[S. P.]]></given-names>
</name>
</person-group>
<source><![CDATA[The mining of minerals and the limits to growth]]></source>
<year>2021</year>
<publisher-name><![CDATA[GTK, Geological Survey of Finland Unit]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B6">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Pascoe]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
</person-group>
<source><![CDATA['Everyone' was wrong about wages - and they may beagain]]></source>
<year>2022</year>
<publisher-name><![CDATA[The New Daily]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B7">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Phillips]]></surname>
<given-names><![CDATA[A. W.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The relation between unemployment and the rate of change of money wage rates in the United Kingdom]]></article-title>
<source><![CDATA[Economica]]></source>
<year>1958</year>
<volume>25</volume>
<numero>100</numero>
<issue>100</issue>
<page-range>283-99</page-range></nlm-citation>
</ref>
<ref id="B8">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Sablick]]></surname>
<given-names><![CDATA[T.]]></given-names>
</name>
</person-group>
<source><![CDATA[Recession of 1981-82]]></source>
<year>2013</year>
<publisher-name><![CDATA[Federal Reserve History]]></publisher-name>
</nlm-citation>
</ref>
</ref-list>
</back>
</article>
