Money Supply and Financial Measures Compound Annual Growth Rates
The CAGR provides the one rate that defines the return for the entire measurement period.
South-Eastern Europe: In South-Eastern Europe, formal or informal currency pegs or unilateral euroization constrain the conduct of monetary policy, but the overall monetary conditions are accommodative. In countries with flexible currencies, policy rates remain at a record low, such as in Albania, thanks to the earlier disinflationary trend and the continuing ECB monetary loosening. Interest rates were also gradually reduced in Serbia.
On the other hand, as we will see, there are reasons from other facts and theories to question this logic While the future of frontier growth is surely hard to know, the stability of frontier growth is most certainly misleading as a guide to growth further back in history. Sustained exponential growth in living standards is an incrediblyrecent phenomenon. For thousands and thousands of years, life was, in the evocativelanguage of Thomas Hobbes, “nasty, brutish, and short.” Only in the last two centurieshas this changed, but in this relatively brief time, the change has been dramatic
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