commonly consumed in the 1980s. Inflation-adjusted price trends for these largely unchanged fruits and vegetables show patterns … to all other goods. Specifically, from 1980-2006, inflation-adjusted prices of chocolate chip cookies, cola, ice cream …, and potato chips fell by an average of 0.5-1.7 percent each year. During the same period, inflation-adjusted prices of Red …

, a long period characterized by high inflation, hefty public debt, financial market innovations, progressive integration …% 15% 20% 25% 30% AT BE DE ES EL FR FI IT NL PT DK UK CZ EE PL US 2000 2001 2002 2003 2004 Note. The figure plots the …), DK (Denmark), UK (United Kingdom), CZ (Czech Republic), EE (Estonia), PL (Poland). Source: Consumer Credit and Lending …

experiencing a favourable period of robust growth, low unemployment and moderate underlying inflation. This largely reflects the … productivity growth, have kept cost inflation at a moderate pace. A tradition of foreign trade openness, domestic competition, a … these international trends. With underlying inflation well below its target, Norges Bank has raised the interest rate in …

energy prices in the face of rising domestic inflation rates. Energy supply and demand structure: An overview A key factor in … with petrodollars, and the exchange rate and inflation rates were well under control, the economic difficulties experienced … Saudi Arabia* 0.26 118 Venezuela* 0.15 68 UK* 0.90 409 USA* 0.40 182 France 1.20 545 Brazil 0.60 273 * oil producing …

energy prices in the face of rising domestic inflation rates. Energy supply and demand structure: An overview A key factor in … with petrodollars, and the exchange rate and inflation rates were well under control, the economic difficulties experienced … Saudi Arabia* 0.26 118 Venezuela* 0.15 68 UK* 0.90 409 USA* 0.40 182 France 1.20 545 Brazil 0.60 273 * oil producing …

. Also, the share of Russia in the CEE countries remains high (5% on average, which is higher than that of the UK or the US … partners in euro area trade Percentage of total extra-euro area trade 0 4 8 12 16 20 1993 1995 1997 1999 2001 2003 UK USA … from the other large industrialised countries (UK, USA and Japan) in CSEE countries was rather low. Both the UK and Japan …

a zero interest rate until inflation has become nonnegative is at best a third-best policy, since it accommodates all … deflation that has occurred before inflation turns nonnegative and therefore is not effective in inducing inflation expectations … real (short) interest rate is too high and the economy is in a recession and/or inflation is too low, perhaps even negative …

the Department of Actuarial Mathematics and Statistics, Heriot-Watt University, Edinburgh, Scotland, EH14 4AS, UK, Phone …: +44 (0) 131 451 4713, Fax: +44 (0) 131 451 3249, Email: B.J.MacDonald@ma.hw.ac.uk † Prof Andrew J.G. Cairns is the Head of … the Department of Actuarial Mathematics and Statis- tics, Heriot-Watt University, Edinburgh, Scotland, EH14 4AS, UK, Phone …