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Different long-run rates of growth of money supply are eventually reflected in different rates of inflation. Tobin studied this in a simple descriptive model with aggregate saving depending only on current income. It was found that money growth was associated with higher capital stock and output...
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world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the …
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The world economy is currently expanding strongly with upward momentum in almost every major economy. Global activity …
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quickly, are now increasingly weighing on growth. World output slowed to a crawl toward the end of the year and is expected to …
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