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An Overview of Inflation and the Process
Impacts of the 19731974 Oil Shock and Terms
Divergence of Economic Conditions and Price
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acceleration adjustment American annual average balance Bank capacity utilization capital stock caused Changes compared comparison consumer price continued contrast contributed corporate countries decade decline despite differences divergence domestic demand Economic economic growth effect employee employment excess expansion expenditures export external factors Federal figure firms fiscal deficit funds Gross growth growth of real higher household impact import improvement income increased industries inflation interest International investment Japan Japanese labor productivity less loss major Manufacturing materials moderation monetary policy nearly oil shock percent percentage period points preceding productivity productivity growth rapid ratio real output recession recovery reduced Relation relative Reserve response resulting rise savings second half sector sharp sharply situation Sources stock per employee supply terms of trade tion trade balance trend unemployment rate unit labor costs University wage wage behavior workers