                                                357

  

g=(C^cy>-\,                             (13.5)
    ,  .   -     / -


.

 13.3

     

               
(%  )

1926-1933                  -3,8
1934-1952                   3,8
1953-1965                   1,4
1966-1981                   7,0
1982-1993                   3,7

   

13.3.1    

       
        .  
        ,   -
     ,        -
 ,  .       
 .  ,      -
   ,        -
 (nominal return),    (nominal rate).

13.3.2       

-         
  ,    (real return),  -
12.    ,       
       - -
    .      
      ,  
.     CPL

, ,     CPI    121,   
   124.  ,       $124   
    ,      $121. 
        8%,  , 
   $121,     $121  1,08 = $130,68.    
   5,39% ($130,8/$124 - 1 = 0,0539)    -
  CPI,    .  ,    
 5,39%.