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Inflation

Index Inflation

In economics, inflation is a sustained increase in price level of goods and services in an economy over a period of time. [1]

183 relations: Adam Smith, Adaptive expectations, Aggregate demand, Alan Blinder, Allocative efficiency, American Civil War, American Institute for Economic Research, Asset, Asset price inflation, Atlantic Media, Austrian School, Balance of trade, Baltimore, Banknote, Base effect, Black Death, Bretton Woods system, British Banking School, British Currency School, Built-in inflation, Bullion coin, Bureau of Labor Statistics, Central bank, Commercial Revolution, Commodity, Commodity money, Commodity price index, Consumer price index, Convertibility plan, Core inflation, Cost-push inflation, Creative destruction, Cristina Fernández de Kirchner, Currency, Currency board, Currency substitution, David Hume, David Ricardo, Deflation, Demand, Demand-pull inflation, Demand-pull theory, Depreciation, Devaluation, Discount window, Disinflation, Earl J. Hamilton, Economic bubble, Economic efficiency, Economic growth, ..., Economics, Egyptian revolution of 2011, Employment cost index, Endogenous money, Equation of exchange, Exchange rate, Federal funds rate, Federal Reserve Bank of Boston, Federal Reserve Bank of St. Louis, Federal Reserve Board of Governors, Federal Reserve System, Fiat money, Financial asset, Fiscal policy, Floating exchange rate, Fraction of variance unexplained, Frederic Mishkin, GDP deflator, Goods, Government of Argentina, Greater East Asia Co-Prosperity Sphere, Habsburg Spain, Harvard University Press, Hoarding, Hoarding (economics), Hosni Mubarak, Hyperinflation, Hyperinflation in the Weimar Republic, Inflation hedge, Interest rate, Johns Hopkins University Press, Keynesian economics, Labour economics, Leonardo Auernheimer, Liquidity trap, List of countries by inflation rate, List of national and international statistical services, Ludwig von Mises, Margaret Thatcher, Marxian economics, Measuring economic worth over time, Median, Menu cost, Milton Friedman, Ming dynasty, Monetarism, Monetary authority, Monetary inflation, Monetary policy, Money supply, Mongol invasions and conquests, Mundell–Tobin effect, NAIRU, Netherlands, New World, Nobel Memorial Prize in Economic Sciences, Nominal interest rate, Nominal rigidity, North Korea, Open market operation, Opportunity cost, Oxford University Press, Personal consumption expenditures price index, Phillips curve, Physical capital, Post-Keynesian economics, Potential output, Preventive healthcare, Price controls, Price index, Price level, Price revolution, Price signal, Price stability, Price/wage spiral, Prices and Incomes Accord, Producer price index, Purchasing power, Quandl, Quantity theory of money, Ratio, Rational expectations, Real interest rate, Real versus nominal value (economics), Real wages, Recession, Reflation, Relative price, Reserve army of labour, Reserve requirement, Retail price index, Richard Nixon, Robert J. Gordon, Robert Zoellick, Scarcity, Seasonal adjustment, Seigniorage, Sho-Chieh Tsiang, Shoe leather cost, Silver certificate (United States), Social security, Song dynasty, Speculative attack, Stagflation, Steady-state economy, Stock, Stock market, Structural unemployment, Supply and demand, Sveriges Riksbank, Symmetrical inflation target, Taylor rule, Term (time), The Independent, Thomson Reuters/CoreCommodity CRB Index, Trade-off, Triangle model, Tunisian Revolution, Unemployment, Unit price, Value (economics), Velocity of money, Venezuela, Volatility (finance), Wassenaar Agreement, Welfare cost of inflation, Wholesale price index, William Baumol, World Bank, Yuan dynasty, Zine El Abidine Ben Ali, 1973 oil crisis, 1973–75 recession. Expand index (133 more) »

Adam Smith

Adam Smith (16 June 1723 NS (5 June 1723 OS) – 17 July 1790) was a Scottish economist, philosopher and author as well as a moral philosopher, a pioneer of political economy and a key figure during the Scottish Enlightenment era.

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Adaptive expectations

In economics, adaptive expectations is a hypothesized process by which people form their expectations about what will happen in the future based on what has happened in the past.

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Aggregate demand

In macroeconomics, aggregate demand (AD) or domestic final demand (DFD) is the total demand for final goods and services in an economy at a given time.

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Alan Blinder

Alan Stuart Blinder (born October 14, 1945) is an American economist.

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Allocative efficiency

Allocative efficiency is a state of the economy in which production represents consumer preferences; in particular, every good or service is produced up to the point where the last unit provides a marginal benefit to consumers equal to the marginal cost of producing.

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American Civil War

The American Civil War (also known by other names) was a war fought in the United States from 1861 to 1865.

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American Institute for Economic Research

The American Institute for Economic Research (AIER), located in Great Barrington, Massachusetts, is an independent 501(c)(3) economic research institute that represents no fund, concentration of wealth, or other special interests.

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Asset

In financial accounting, an asset is an economic resource.

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Asset price inflation

Asset price inflation is a economic phenomenon denoting a rise in price of assets, as opposed to ordinary goods and services.

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Atlantic Media

Atlantic Media is an American print and online media company owned by David G. Bradley and based in the Watergate in Washington, D.C. The company publishes several prominent news magazines and digital publications including The Atlantic, Quartz, Government Executive, Defense One and those belonging to its National Journal Group subsidiary: National Journal, The Hotline, National Journal Daily (previously known as Congress Daily), and Technology Daily.

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Austrian School

The Austrian School is a school of economic thought that is based on methodological individualism—the concept that social phenomena result from the motivations and actions of individuals.

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Balance of trade

The balance of trade, commercial balance, or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain period.

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Baltimore

Baltimore is the largest city in the U.S. state of Maryland, and the 30th-most populous city in the United States.

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Banknote

A banknote (often known as a bill, paper money, or simply a note) is a type of negotiable promissory note, made by a bank, payable to the bearer on demand.

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Base effect

The Base effect relates to inflation in the corresponding period of the previous year, if the inflation rate was too low in the corresponding period of the previous year, even a smaller rise in the Price Index will arithmetically give a high rate of inflation now.

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Black Death

The Black Death, also known as the Great Plague, the Black Plague, or simply the Plague, was one of the most devastating pandemics in human history, resulting in the deaths of an estimated people in Eurasia and peaking in Europe from 1347 to 1351.

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Bretton Woods system

The Bretton Woods system of monetary management established the rules for commercial and financial relations among the United States, Canada, Western Europe, Australia, and Japan after the 1944 Bretton-Woods Agreement.

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British Banking School

The British Banking School was a group of 19th century economists from the United Kingdom who wrote on monetary and banking issues.

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British Currency School

The British Currency School was a group of British economists, active in the 1840s and 1850s, who argued that the excessive issuing of banknotes was a major cause of price inflation.

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Built-in inflation

Built-in inflation is a type of inflation that results from past events and persists in the present.

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Bullion coin

A bullion coin is a coin struck from precious metal and kept as a store of value or an investment, rather than used in day-to-day commerce.

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Bureau of Labor Statistics

The Bureau of Labor Statistics (BLS) is a unit of the United States Department of Labor.

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Central bank

A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates.

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Commercial Revolution

The Commercial Revolution consisted in the creation of a European economy based on trade, which began in the 11th century and lasted until it was succeeded by the Industrial Revolution in the mid-18th century.

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Commodity

In economics, a commodity is an economic good or service that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.

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Commodity money

Commodity money is money whose value comes from a commodity of which it is made.

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Commodity price index

A commodity price index is a fixed-weight index or (weighted) average of selected commodity prices, which may be based on spot or futures prices.

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Consumer price index

A consumer price index (CPI) measures changes in the price level of of and purchased by households.

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Convertibility plan

The Argentine Currency Board pegged the Argentine peso to the U.S. dollar between 1991 and 2002 in an attempt to eliminate hyperinflation and stimulate economic growth.

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Core inflation

Core inflation represents the long run trend in the price level.

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Cost-push inflation

Cost-push inflation is a type of inflation caused by substantial increases in the cost of important goods or services where no suitable alternative is available.

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Creative destruction

Creative destruction (German: schöpferische Zerstörung), sometimes known as Schumpeter's gale, is a concept in economics which since the 1950s has become most readily identified with the Austrian-American economist Joseph Schumpeter who derived it from the work of Karl Marx and popularized it as a theory of economic innovation and the business cycle.

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Cristina Fernández de Kirchner

Cristina Elisabet Fernández de Kirchner (born 19 February 1953), sometimes referred to by her initials CFK, is an Argentine lawyer and politician, who served as President of Argentina from 2007 to 2015.

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Currency

A currency (from curraunt, "in circulation", from currens, -entis), in the most specific use of the word, refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins.

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Currency board

A currency board is a monetary authority which is required to maintain a fixed exchange rate with a foreign currency.

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Currency substitution

Currency substitution, dollarization, or elminting (from el-, meaning foreign) is the use of a foreign currency in parallel to or instead of the domestic currency.

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David Hume

David Hume (born David Home; 7 May 1711 NS (26 April 1711 OS) – 25 August 1776) was a Scottish philosopher, historian, economist, and essayist, who is best known today for his highly influential system of philosophical empiricism, skepticism, and naturalism.

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David Ricardo

David Ricardo (18 April 1772 – 11 September 1823) was a British political economist, one of the most influential of the classical economists along with Thomas Malthus, Adam Smith and James Mill.

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Deflation

In economics, deflation is a decrease in the general price level of goods and services.

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Demand

In economics, demand is the quantities of a commodity or a service that people are willing and able to buy at various prices, over a given period of time.

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Demand-pull inflation

Demand-pull inflation is asserted to arise when aggregate demand in an economy outpaces aggregate supply.

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Demand-pull theory

In economics, the demand-pull theory is the theory that inflation occurs when demand for goods and services exceeds existing supplies.

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Depreciation

In accountancy, depreciation refers to two aspects of the same concept.

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Devaluation

In modern monetary policy, a devaluation is an official lowering of the value of a country's currency within a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency or currency basket.

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Discount window

The discount window is an instrument of monetary policy (usually controlled by central banks) that allows eligible institutions to borrow money from the central bank, usually on a short-term basis, to meet temporary shortages of liquidity caused by internal or external disruptions.

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Disinflation

Disinflation is a decrease in the rate of inflation – a slowdown in the rate of increase of the general price level of goods and services in a nation's gross domestic product over time.

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Earl J. Hamilton

Earl Jefferson Hamilton (1899 – 7 May 1989) was an American historian, one of the founders of economic history, and a prominent hispanist.

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Economic bubble

An economic bubble or asset bubble (sometimes also referred to as a speculative bubble, a market bubble, a price bubble, a financial bubble, a speculative mania, or a balloon) is trade in an asset at a price or price range that strongly exceeds the asset's intrinsic value.

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Economic efficiency

Economic efficiency is, roughly speaking, a situation in which nothing can be improved without something else being hurt.

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Economic growth

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time.

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Economics

Economics is the social science that studies the production, distribution, and consumption of goods and services.

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Egyptian revolution of 2011

The Egyptian revolution of 2011, locally known as the January 25 Revolution (ثورة 25 يناير), and as the Egyptian Revolution of Dignity began on 25 January 2011 and took place across all of Egypt.

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Employment cost index

The employment cost index (ECI) is a quarterly economic series detailing the changes in the costs of labor for businesses in the United States economy.

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Endogenous money

Endogenous money is an economy’s supply of money that is determined endogenously—that is, as a result of the interactions of other economic variables, rather than exogenously (autonomously) by an external authority such as a central bank.

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Equation of exchange

In monetary economics, the equation of exchange is the relation: where, for a given period, Thus PQ is the level of nominal expenditures.

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Exchange rate

In finance, an exchange rate is the rate at which one currency will be exchanged for another.

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Federal funds rate

In the United States, the federal funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight, on an uncollateralized basis.

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Federal Reserve Bank of Boston

The Federal Reserve Bank of Boston, commonly known as the Boston Fed, is responsible for the First District of the Federal Reserve, which covers New England: Maine, Massachusetts, New Hampshire, Rhode Island, Vermont and all of Connecticut except Fairfield County.

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Federal Reserve Bank of St. Louis

The Federal Reserve Bank of St.

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Federal Reserve Board of Governors

The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System.

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Federal Reserve System

The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America.

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Fiat money

Fiat money is a currency without intrinsic value that has been established as money, often by government regulation.

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Financial asset

A financial asset is a non-physical asset whose value is derived from a contractual claim, such as bank deposits, bonds, and stocks.

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Fiscal policy

In economics and political science, fiscal policy is the use of government revenue collection (mainly taxes) and expenditure (spending) to influence the economy.

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Floating exchange rate

A floating exchange rate (also called a fluctuating or flexible exchange rate) is a type of exchange-rate regime in which a currency's value is allowed to fluctuate in response to foreign-exchange market mechanisms.

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Fraction of variance unexplained

In statistics, the fraction of variance unexplained (FVU) in the context of a regression task is the fraction of variance of the regressand (dependent variable) Y which cannot be explained, i.e., which is not correctly predicted, by the explanatory variables X.

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Frederic Mishkin

Frederic Stanley "Rick" Mishkin (born January 11, 1951) is an American economist and Alfred Lerner professor of Banking and Financial Institutions at the Graduate School of Business, Columbia University.

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GDP deflator

In economics, the GDP deflator (implicit price deflator) is a measure of the level of prices of all new, domestically produced, final goods and services in an economy.

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Goods

In economics, goods are materials that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product.

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Government of Argentina

The government of Argentina, within the framework of a federal system, is a presidential representative democratic republic.

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Greater East Asia Co-Prosperity Sphere

The was an imperial concept created and promulgated for occupied Asian populations during 1930–1945 by the Empire of Japan.

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Habsburg Spain

Habsburg Spain refers to the history of Spain over the 16th and 17th centuries (1516–1700), when it was ruled by kings from the House of Habsburg (also associated with its role in the history of Central Europe).

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Harvard University Press

Harvard University Press (HUP) is a publishing house established on January 13, 1913, as a division of Harvard University, and focused on academic publishing.

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Hoarding

Hoarding is a behavior where people or animals accumulate food or other items.

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Hoarding (economics)

In economics, hoarding is the practice of obtaining and holding resources in quantities greater than needed for one's immediate use.

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Hosni Mubarak

Muhammad Hosni El Sayed Mubarak (محمد حسني السيد مبارك,,; born 4 May 1928) is a former Egyptian military and political leader who served as the fourth President of Egypt from 1981 to 2011.

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Hyperinflation

In economics, hyperinflation is very high and typically accelerating inflation.

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Hyperinflation in the Weimar Republic

During a period between 1918 and January 1924, the German mark suffered hyperinflation.

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Inflation hedge

An inflation hedge is an investment intended to protect the investor against (hedge) a decrease in the purchasing power of money (inflation).

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Interest rate

An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited or borrowed (called the principal sum).

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Johns Hopkins University Press

The Johns Hopkins University Press (also referred to as JHU Press or JHUP) is the publishing division of Johns Hopkins University.

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Keynesian economics

Keynesian economics (sometimes called Keynesianism) are the various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand (total demand in the economy).

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Labour economics

Labour economics seeks to understand the functioning and dynamics of the markets for wage labour.

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Leonardo Auernheimer

Leonardo Auernheimer (August 27, 1936 – 2010) was an economist, professor, and international monetary consultant.

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Liquidity trap

A liquidity trap is a situation, described in Keynesian economics, in which, "after the rate of interest has fallen to a certain level, liquidity preference may become virtually absolute in the sense that almost everyone prefers cash holding a debt which yields so low a rate of interest."Keynes, John Maynard (1936) The General Theory of Employment, Interest and Money, United Kingdom: Palgrave Macmillan, 2007 edition, A liquidity trap is caused when people hoard cash because they expect an adverse event such as deflation, insufficient aggregate demand, or war.

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List of countries by inflation rate

This is a list of countries and territories sorted by CPI-based inflation rate.

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List of national and international statistical services

The following is a list of national and international statistical services.

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Ludwig von Mises

Ludwig Heinrich Edler von Mises (29 September 1881 – 10 October 1973) was an Austrian-American theoretical Austrian School economist.

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Margaret Thatcher

Margaret Hilda Thatcher, Baroness Thatcher, (13 October 19258 April 2013) was a British stateswoman who served as Prime Minister of the United Kingdom from 1979 to 1990 and Leader of the Conservative Party from 1975 to 1990.

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Marxian economics

Marxian economics, or the Marxian school of economics, refers to a school of economic thought tracing its foundations to the critique of classical political economy first expounded upon by Karl Marx and Friedrich Engels.

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Measuring economic worth over time

The measurement of economic worth over time is the problem of relating past prices, costs, values and proportions of social production to current ones.

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Median

The median is the value separating the higher half of a data sample, a population, or a probability distribution, from the lower half.

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Menu cost

In economics, a menu cost is the cost to a firm resulting from changing its prices.

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Milton Friedman

Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy.

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Ming dynasty

The Ming dynasty was the ruling dynasty of China – then known as the – for 276 years (1368–1644) following the collapse of the Mongol-led Yuan dynasty.

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Monetarism

Monetarism is a school of thought in monetary economics that emphasizes the role of governments in controlling the amount of money in circulation.

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Monetary authority

In finance and economics, a monetary authority is the entity which controls the money supply of a given currency, often with the objective of controlling inflation or interest rates.

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Monetary inflation

Monetary inflation is a sustained increase in the money supply of a country (or currency area).

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Monetary policy

Monetary policy is the process by which the monetary authority of a country, typically the central bank or currency board, controls either the cost of very short-term borrowing or the monetary base, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.

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Money supply

In economics, the money supply (or money stock) is the total value of monetary assets available in an economy at a specific time.

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Mongol invasions and conquests

Mongol invasions and conquests took place throughout the 13th century, resulting in the vast Mongol Empire, which by 1300 covered much of Asia and Eastern Europe.

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Mundell–Tobin effect

The Mundell–Tobin effect suggests that nominal interest rates would rise less than one-for-one with inflation because in response to inflation the public would hold less in money balances and more in other assets, which would drive interest rates down.

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NAIRU

NAIRU is an acronym for non-accelerating inflation rate of unemployment, and refers to a level of unemployment below which inflation rises.

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Netherlands

The Netherlands (Nederland), often referred to as Holland, is a country located mostly in Western Europe with a population of seventeen million.

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New World

The New World is one of the names used for the majority of Earth's Western Hemisphere, specifically the Americas (including nearby islands such as those of the Caribbean and Bermuda).

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Nobel Memorial Prize in Economic Sciences

The Nobel Memorial Prize in Economic Sciences (officially Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne, or the Swedish National Bank's Prize in Economic Sciences in Memory of Alfred Nobel), commonly referred to as the Nobel Prize in Economics, is an award for outstanding contributions to the field of economics, and generally regarded as the most prestigious award for that field.

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Nominal interest rate

In finance and economics, the nominal interest rate or nominal rate of interest is either of two distinct things.

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Nominal rigidity

Nominal rigidity, also known as price-stickiness or wage-stickiness, describes a situation in which the nominal price is resistant to change.

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North Korea

North Korea (Chosŏn'gŭl:조선; Hanja:朝鮮; Chosŏn), officially the Democratic People's Republic of Korea (abbreviated as DPRK, PRK, DPR Korea, or Korea DPR), is a country in East Asia constituting the northern part of the Korean Peninsula.

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Open market operation

An open market operation (OMO) is an activity by a central bank to give (or take) liquidity in its currency to (or from) a bank or a group of banks.

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Opportunity cost

In microeconomic theory, the opportunity cost, also known as alternative cost, is the value (not a benefit) of the choice in terms of the best alternative while making a decision.

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Oxford University Press

Oxford University Press (OUP) is the largest university press in the world, and the second oldest after Cambridge University Press.

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Personal consumption expenditures price index

The personal consumption expenditure (PCE) measure is the component statistic for consumption in gross domestic product (GDP) collected by the United States Bureau of Economic Analysis (BEA).

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Phillips curve

The Phillips curve is a single-equation empirical model, named after William Phillips, describing a historical inverse relationship between rates of unemployment and corresponding rates of rises in wages that result within an economy.

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Physical capital

In economics, physical capital or just capital is a factor of production (or input into the process of production), consisting of machinery, buildings, computers, and the like.

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Post-Keynesian economics

Post-Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel.

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Potential output

In economics, potential output (also referred to as "natural gross domestic product") refers to the highest level of real gross domestic product (potential output) that can be sustained over the long term.

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Preventive healthcare

Preventive healthcare (alternately preventive medicine, preventative healthcare/medicine, or prophylaxis) consists of measures taken for disease prevention, as opposed to disease treatment.

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Price controls

Price controls are governmental restrictions on the prices that can be charged for goods and services in a market.

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Price index

A price index (plural: “price indices” or “price indexes”) is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a given region, during a given interval of time.

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Price level

The general price level is a hypothetical daily measure of overall prices for some set of goods and services (the consumer basket), in an economy or monetary union during a given interval (generally one day), normalized relative to some base set.

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Price revolution

The price revolution, sometimes known as the Spanish Price Revolution, was a series of economic events that occurred between the second half of the 15th century and the first half of the 17th century, and most specifically to the high rate of inflation that occurred during this period across Western Europe.

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Price signal

A price signal is information conveyed to consumers and producers, via the price charged for a product or service, which provides a signal to increase or decrease supply or demand.

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Price stability

Price stability is a goal of monetary and fiscal policy aiming to support sustainable rates of economic activity.

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Price/wage spiral

In macroeconomics, the price/wage spiral (also called the wage/price spiral or wage-price spiral) represents a vicious circle process in which wage increases cause price increases which in turn cause wage increases, possibly with no answer to which came first.

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Prices and Incomes Accord

The Prices and Incomes Accord was an agreement between the Australian Council of Trade Unions and the Australian Labor Party government of Prime Minister Bob Hawke and Treasurer (later Prime Minister) Paul Keating in 1983.

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Producer price index

A producer price index (PPI) is a price index that measures the average changes in prices received by domestic producers for their output.

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Purchasing power

Purchasing power (sometimes retroactively called adjusted for inflation) is the number and quality or value of goods and services that can be purchased with a unit of currency.

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Quandl

Quandl is a platform for financial, economic, and alternative data that serves investment professionals.

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Quantity theory of money

In monetary economics, the quantity theory of money (QTM) states that the general price level of goods and services is directly proportional to the amount of money in circulation, or money supply.

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Ratio

In mathematics, a ratio is a relationship between two numbers indicating how many times the first number contains the second.

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Rational expectations

In economics, "rational expectations" are model-consistent expectations, in that agents inside the model are assumed to "know the model" and on average take the model's predictions as valid.

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Real interest rate

The real interest rate is the rate of interest an investor, saver or lender receives (or expects to receive) after allowing for inflation.

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Real versus nominal value (economics)

In economics, a real value of a good or other entity has been adjusted for inflation, enabling comparison of quantities as if prices had not changed.

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Real wages

Real wages are wages adjusted for inflation, or, equivalently, wages in terms of the amount of goods and services that can be bought.

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Recession

In economics, a recession is a business cycle contraction which results in a general slowdown in economic activity.

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Reflation

Reflation is the act of stimulating the economy by increasing the money supply or by reducing taxes, seeking to bring the economy (specifically price level) back up to the long-term trend, following a dip in the business cycle.

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Relative price

A relative price is the price of a commodity such as a good or service in terms of another; i.e., the ratio of two prices.

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Reserve army of labour

Reserve army of labour is a concept in Karl Marx's critique of political economy.

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Reserve requirement

The reserve requirement (or cash reserve ratio) is a central bank regulation employed by most, but not all, of the world's central banks, that sets the minimum amount of reserves that must be held by a commercial bank.

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Retail price index

In the United Kingdom, the retail prices index or retail price index (RPI) is a measure of inflation published monthly by the Office for National Statistics.

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Richard Nixon

Richard Milhous Nixon (January 9, 1913 – April 22, 1994) was an American politician who served as the 37th President of the United States, serving from 1969 until 1974, when he resigned from office, the only U.S. president to do so.

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Robert J. Gordon

Robert James "Bob" Gordon is an American economist.

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Robert Zoellick

Robert Bruce Zoellick (born July 25, 1953) is an American public official and lawyer who was the eleventh president of the World Bank, a position he held from July 1, 2007 to June 30, 2012.

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Scarcity

Scarcity refers to the limited availability of a commodity, which may be in demand in the market.

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Seasonal adjustment

Seasonal adjustment is a statistical method for removing the seasonal component of a time series that exhibits a seasonal pattern.

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Seigniorage

Seigniorage, also spelled seignorage or seigneurage (from Old French seigneuriage "right of the lord (seigneur) to mint money"), is the difference between the value of money and the cost to produce and distribute it.

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Sho-Chieh Tsiang

Sho-Chieh Tsiang (August 25, 1918 – October 21, 1993) is a Chinese-American economist.

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Shoe leather cost

Shoe leather cost refers to the cost of time and effort (or opportunity costs of time and effort) that people expend by holding less cash in order to reduce the inflation tax that they pay on cash holdings when there is high inflation.

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Silver certificate (United States)

Silver certificates are a type of representative money issued between 1878 and 1964 in the United States as part of its circulation of paper currency.

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Social security

Social security is "any government system that provides monetary assistance to people with an inadequate or no income." Social security is enshrined in Article 22 of the Universal Declaration of Human Rights, which states: Everyone, as a member of society, has the right to social security and is entitled to realization, through national effort and international co-operation and in accordance with the organization and resources of each State, of the economic, social and cultural rights indispensable for his dignity and the free development of his personality.

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Song dynasty

The Song dynasty (960–1279) was an era of Chinese history that began in 960 and continued until 1279.

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Speculative attack

In economics, a speculative attack is a precipitous acquisition of some assets (currencies, gold, emission permits, remaining quotas) by previously inactive speculators.

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Stagflation

In economics, stagflation, a portmanteau of stagnation and inflation, is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high.

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Steady-state economy

A steady-state economy is an economy consisting of a constant stock of physical wealth (capital) and a constant population size.

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Stock

The stock (also capital stock) of a corporation is constituted of the equity stock of its owners.

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Stock market

A stock market, equity market or share market is the aggregation of buyers and sellers (a loose network of economic transactions, not a physical facility or discrete entity) of stocks (also called shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange as well as those only traded privately.

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Structural unemployment

Structural unemployment is a form of unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded of workers by employers (also known as the skills gap).

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Supply and demand

In microeconomics, supply and demand is an economic model of price determination in a market.

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Sveriges Riksbank

Sveriges Riksbank, or simply Riksbanken, is the central bank of Sweden.

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Symmetrical inflation target

A symmetrical inflation target is a requirement placed on a central bank to respond when inflation is too low as well as when inflation is too high.

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Taylor rule

In economics, a Taylor rule is a reduced form approximation of the responsiveness of the nominal interest rate, as set by the central bank, to changes in inflation, output, or other economic conditions.

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Term (time)

A term is a period of duration, time or occurrence, in relation to an event.

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The Independent

The Independent is a British online newspaper.

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Thomson Reuters/CoreCommodity CRB Index

The Thomson Reuters/CoreCommodity CRB Index (TR/CC CRB) is a commodity futures price index.

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Trade-off

A trade-off (or tradeoff) is a situational decision that involves diminishing or losing one quality, quantity or property of a set or design in return for gains in other aspects.

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Triangle model

In macroeconomics, the triangle model employed by new Keynesian economics is a model of inflation derived from the Phillips Curve and given its name by Robert J. Gordon.

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Tunisian Revolution

The Tunisian Revolution was an intensive campaign of civil resistance, including a series of street demonstrations taking place in Tunisia, and led to the ousting of longtime president Zine El Abidine Ben Ali in January 2011.

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Unemployment

Unemployment is the situation of actively looking for employment but not being currently employed.

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Unit price

Average prices represent, quite simply, total sales revenue divided by total units sold.

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Value (economics)

Economic value is a measure of the benefit provided by a good or service to an economic agent.

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Velocity of money

Similar chart showing the velocity of a broader measure of money that covers M2 plus large institutional deposits, M3. The US no longer publishes official M3 measures, so the chart only runs through 2005. The term "velocity of money" (also "The velocity of circulation of money") refers to how fast money passes from one holder to the next.

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Venezuela

Venezuela, officially denominated Bolivarian Republic of Venezuela (República Bolivariana de Venezuela),Previously, the official name was Estado de Venezuela (1830–1856), República de Venezuela (1856–1864), Estados Unidos de Venezuela (1864–1953), and again República de Venezuela (1953–1999).

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Volatility (finance)

In finance, volatility (symbol σ) is the degree of variation of a trading price series over time as measured by the standard deviation of logarithmic returns.

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Wassenaar Agreement

The Wassenaar Agreement was an agreement reached in 1982 between employers' organisations and labour unions in the Netherlands to restrain wage growth in return for the adoption of policies to combat unemployment and inflation, such as reductions in working hours and the expansion of part-time employment.

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Welfare cost of inflation

In macroeconomics, the welfare cost of inflation comprises the changes in social welfare caused by inflation.

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Wholesale price index

The Wholesale Price Index (WPI) is the price of a representative basket of wholesale goods.

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William Baumol

William Jack Baumol (February 26, 1922 – May 4, 2017) was an American economist.

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World Bank

The World Bank (Banque mondiale) is an international financial institution that provides loans to countries of the world for capital projects.

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Yuan dynasty

The Yuan dynasty, officially the Great Yuan (Yehe Yuan Ulus), was the empire or ruling dynasty of China established by Kublai Khan, leader of the Mongolian Borjigin clan.

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Zine El Abidine Ben Ali

Zine El Abidine Ben Ali (زين العابدين بن علي,; born 3 September 1936) is a Tunisian former politician who served as President of Tunisia from 1987 until his ousting in 2011.

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1973 oil crisis

The 1973 oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo.

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1973–75 recession

The 1973–75 recession or 1970s recession was a period of economic stagnation in much of the Western world during the 1970s, putting an end to the overall Post–World War II economic expansion.

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References

[1] https://en.wikipedia.org/wiki/Inflation

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