Download the PDF to view the transcript of the lecture.
Definition :
Currency depreciation: A fall in the value of a currency relative to others. This fall may be linked, in particular, to a deterioration in a country’s trade balance (a fall in exports or a rise in imports), a monetary policy decision (a change in interest rates) or movements in the financial markets (speculation, asset sales).
Industrial inputs: Refers to all the elements that go into a production process.
Price-wage spiral: A macroeconomic cycle in which wage and price increases feed into one another, driving both upwards.
Stagflation : An economy suffering simultaneously from high inflation and low, or even zero, growth.
