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The Effects of Inflation on Life Office Practice

Published online by Cambridge University Press:  11 August 2014

D. R. Linnell
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Extract

1.1. The effects of inflation are gradual, and are difficult to separate from the effects of other influences. This paper looks briefly at some of the effects in the past, and then takes a look into the future.

1.2. In the last seventy years this country has experienced three periods of rapid inflation. The first two were connected with the two major Wars. During the Wars the Government took action in the form of price controls and subsidies to restrain the growth in prices. We are now experiencing another bout of inflation (and another bout of Government action).

1.3. The recent inflation has not been a purely British phenomenon. It has been shared by most of the world. I. S. Friedman (1973) points out that action by individual countries is unlikely to succeed in beating inflation. In the absence of any concerted action, he concludes that inflation is likely to be with us for the foreseeable future.

Type
Research Article
Information
Journal of the Staple Inn Actuarial Society , Volume 21 , Issue 2 , October 1975 , pp. 139 - 152
Copyright
Copyright © Institute of Actuaries Students' Society 1975

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References

APPENDIX 4: REFERENCES

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