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After the crisis was over, the Japanese authorities announced a plan to control M2 growth, starting in July 1974. The growth rate of M2 gradually declined over the following decade, averaging just 12.8% in the critical period January 1976 to December 1978, effectively halving the growth rate of M2 experienced before the first oil crisis. Consequently, when the second oil crisis erupted, the overall CPI increased only mildly, from 4.2% per year in 1978 to a peak of 8.2% in 1980, and then to 4.9% in 1981. In other words, while relative prices increased, overall inflation remained relatively moderate. There can be few more striking demonstrations of the fact that changes in the money supply, not changes in oil prices, cause inflation.
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Онколог назвал возможную причину поздней диагностики рака у Лерчек14:51
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McDougle: Another factor is demographic. Most of the top 50 donors are in their 60s or older. In the years ahead, philanthropy is likely to be influenced by a significant intergenerational transfer of wealth. Philanthropy scholars and consultants estimate that tens of trillions of dollars will transfer from older Americans to their younger heirs over the coming decades.
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