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Copy file name to clipboardExpand all lines: lectures/inflation_history.md
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@@ -659,7 +659,7 @@ Chapter 3 of {cite}`sargent2002big` described deliberate changes in policy that
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Each government stopped printing money to pay for goods and services once again which made its currency convertible to the US dollar or the UK pound, thereby vitally to gold.
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The story told in {cite}`sargent2002big` is grounded in a "monetarist theory of the price level" described in {doc}`this lecture <cagan_ree>` and {doc}`this lecture <cagan_adaptive>`.
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The story told in {cite}`sargent2002big` is grounded in a "monetarist theory of the price level" described in {doc}`cagan_ree` and {doc}`cagan_adaptive`.
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Those lectures discuss theories about what owners of those rapidly depreciating currencies were thinking and how their beliefs shaped responses of inflation to government monetary and fiscal policies.
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