| 21. | The current situation, while similar in its narrow focus, is driven by disinflation.
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| 22. | Disinflation is reduction in the inflation rate.
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| 23. | "This is a major disinflation shock to the system, " said Glassman.
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| 24. | Remember when the rolling disinflation of the Reagan years hit the Rust Belt in the early 1980s?
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| 25. | That's the smallest share of the economy since 1974-- a significant disinflation factor.
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| 26. | "The disinflation-inspired bull market of 1982 to'96 is over,"
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| 27. | The resulting glut in global capacity reduced prices overseas, allowing the United States to import disinflation.
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| 28. | First, disinflations are always contractionary ( although announced disinflations are less contractionary than surprise ones ).
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| 29. | First, disinflations are always contractionary ( although announced disinflations are less contractionary than surprise ones ).
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| 30. | Behind this phenomenon are two economic trends that coincided in the last decade : global inflation and American disinflation.
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