THE ECONOMIC IMPLICATIONS OF RISING FOOD PRICES: FRIEDMAN AND THE PRICE OF STEAKS
检验了高通胀导致价格分散和市场扭曲的理论，利用1968-1984年英国牛排价格数据，并考虑了实际收入和共同农业政策的影响。
The rationale for anti‐inflationary policies (at least in the UK) arises from a theory that higher rates of inflation lead to a greater variability in the dispersion of prices and market distortions. This is because economic agents do not fully anticipate what future rates of inflation will be. Little or no empirical work has been directed to the agricultual sector for this model. The economic implications of the prices of some varieties of beef steaks are considered by testing the model for UK data over the period 1968 to 1984. The effects of real earnings and the Common Agricultural Policy are also considered.