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ABSTRACT. Gnan and Valderrama hold that global inflation followed a distinct downward trend during the 1980s and 1990s. Wagner maintains that technical progress can be made productive if it is accompanied by adequate or necessary institutional measures or changes. Rogoff holds that equities should reflect long horizon returns, and long-run risk does not necessarily diminish in proportion to reductions in short-run volatility.

 

DORIN DOBRISAN
 
 
 

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