THE IMPACT OF INFLATION ON CAPITAL BUDGETING AND WORKING CAPITAL

Abstract

A major impact on both financial theory and the practice of financial decision making has been the economic instability, especially in prices, evidenced in the U.S. economy since the mid 1960’s. Inflation in the past few years has not been a major macro economic problem, but its spectere, as demonstrated by the Fed’s recent increases in interest rates, is never for the agendas of financial decision makers. Macro economic instability has necessitated that expectations about

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