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Secular inflation : ウィキペディア英語版 | Secular inflation
Secular inflation is an economic term used to describe a prolonged period of gentle or mild price increases.〔Akrani, Gaurav. "Types of Inflation in Economics With Examples and Diagram." Types of Inflation in Economics With Examples and Diagram. Kaylan City Life, 9 July 2011. Web. 1 Aug. 2014. .〕 Secular, or chronic, inflation is basically creeping inflation that continues to persist over a long period of time. Creeping inflation is a term used to describe a gradual rather than drastic increase in prices.〔Akrani, Gaurav. "Types of Inflation in Economics With Examples and Diagram." Types of Inflation in Economics With Examples and Diagram. Kaylan City Life, 9 July 2011. Web. 1 Aug. 2014. .〕 Although most commonly used to describe a mild inflation rate, secular inflation can be used to describe most inflation rates that are spread over long periods of time. This type of inflation can be consistent (without many downward movements) or intermittent (occurring at regular intervals).〔Akrani, Gaurav. "Types of Inflation in Economics With Examples and Diagram." Types of Inflation in Economics With Examples and Diagram. Kaylan City Life, 9 July 2011. Web. 1 Aug. 2014. .〕 ==Causes== Friedrich-Karl Lage, the economist credited with coining the term "secular inflation", described three causes for secular inflation. These are: outside influences, the wear-and-tear on money-stabilizing institutions, and human conduct.〔Asaduzzaman, M. "Secular Inflation by Friedrich-Karl Lage." The Pakistan Development Review 10: 283-285.〕 Other factors contributing to secular inflation are production and distribution, as costs of production and investments that take a long time to mature prolong rising prices and inflation rates.〔Asaduzzaman, M. "Secular Inflation by Friedrich-Karl Lage." The Pakistan Development Review 10: 283-285.〕 A final cause of secular inflation is consumption behavior, especially when people live beyond their means as a result of the Duessenberry effect.〔Asaduzzaman, M. "Secular Inflation by Friedrich-Karl Lage." The Pakistan Development Review 10: 283-285.〕
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