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Inflation
Recent articles in the new growth literature find that growth and inflation are negatively related, a finding that is usually thought to reflect a long-run relationship. But the inflation-growth correlation is only present with high frequency data and with extreme inflation observations; there is no cross-sectional correlation between long-run averages of growth and inflation. We propose that examination of discrete high inflation crises (periods when inflation is above some threshold, which we propose to be% annual) helps unravel these empirical paradoxes. We establish a robust finding that growth falls sharply during discrete high inflation crises, then recovers rapidly and strongly after inflation falls.
Customers
All commercial organizations owe their existence to customers, and because they are so valuable to companies they should be well cared for. Unless a customer receives good service from a company business may well be transferred to a competitor. Formal complaints from customers are rare, and when one arises it may already be too late to retain that customer. Company top management needs to be aware of how well or how badly their customers are treated, and what the customers think about it. Sales personnel are not always a reliable source of information about customers’ feelings. Regular customer service audits, conducted by external accredited professionals, are the best way of finding out how customers feel about the service they receive, how it is delivered and how it could be improved.
