Exact(16)
Government employees remained on the job, but inflation reduced their salaries to a pittance.
The war and its effects multiplied the debt, although at the same time inflation reduced the value of the franc by half.
The wars, the reforms, and the increase in the number of officials were costly, and inflation reduced the resources of the state.
Toss in anticipated job and income gains, low inflation, reduced closing costs and loans that made it easier to become a first-time home buyer, he says, and you've got all the elements of a healthy market.
The macroeconomist Arthur Okun developed a measure known as the "misery index" – the sum of the unemployment rate and the inflation rate – intended to capture how increasing values of unemployment and inflation reduced national welfare.
As I see it, there's no puzzle at all here: the perception that the BoJ is going to be an easy-money institution in the future has raised expected inflation, reduced real rates, and depreciated the yen.
Similar(41)
Inflation reduces the value of future earnings.
So might a dose of inflation reduce inequality?
Younger workers are typically debtors, who benefit from inflation reducing real interest rates.
Second, higher inflation reduces a currency's real value and thus ought to lead to depreciation.
The Obama proposal, if indexed to inflation, reduces that loss of revenue by about half.
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