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In reply to Paul Cockshott:
OK, you may be right that controlling for inflation using time series data
is not
required since most work concentrates on ratios. Yet, in Fred Moseley's
book
on the falling rate of proft separate price indices are used to deflate
different
parts of the ratios. It maybe that different price indices are needed for
different
variables, in which case we do need to deflate monetary variables into real
terms???
Andrew Trigg