Long-Term Inflation Expectations, The Personal Saving Rate and Credit Standards  

Oleh:

Thompson, Douglas N. ; Ottosen, Garry K.

Jenis: Article from Bulletin/Magazine
Dalam koleksi: BUSINESS ECONOMICS vol. 28 no. 4 (1993), page 45-50.
Topik: credit; long - term inflation; expectation; personal saving rate; credit standards

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: BB20.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

In a brief two or three year period around 1980 - 82 a century - old view of the nature of inflation was shattered. Previously, inflation surges were thought to be the effect of temporary crises. The inflationary experience of the 1966 - 80 period, culminating in a crisis of confidence, taught that inflation could be a continuing problem that might get worse. This paper argues that this shift in long - term inflation expectations was a major cause of the decline in the personal saving rate and that it also had important effects on credit standards.

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