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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.。新收录的资料是该领域的重要参考
。业内人士推荐新收录的资料作为进阶阅读
AI capex driving demand for skilled trades，更多细节参见新收录的资料
“First Example Bank of Money” of
Arsenal and Liverpool will fancy their chance of making the quarter-finals, while Manchester City and Newcastle face tougher routes