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[inflation_history] Update price level histories lecture
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Address some content comments.
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SylviaZhaooo committed Mar 10, 2024
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Expand Up @@ -39,7 +39,7 @@ Thus, in the US, the price level at $t$ is measured in dollars (month $t$ or yea

Until the early 20th century, in many western economies, price levels fluctuated from year to year but didn't have much of a trend.

Often the price level ended a century near where they started.
Often the price levels ended a century near where they started.

Things were different in the 20th century, as we shall see in this lecture.

Expand Down Expand Up @@ -202,7 +202,7 @@ The graphs depict logarithms of price levels during the early post World War I y
* Figure 3.3, Wholesale prices, Poland, 1921-1924 (page 44)
* Figure 3.4, Wholesale prices, Germany, 1919-1924 (page 45)

We have added logarithms of the exchange rates vis a vis the US dollar to each of the four graphs
We have added logarithms of the exchange rates vis-à-vis the US dollar to each of the four graphs
from chapter 3 of {cite}`sargent2013rational`.

Data underlying our graphs appear in tables in an appendix to chapter 3 of {cite}`sargent2013rational`.
Expand Down Expand Up @@ -382,7 +382,7 @@ For each country, we'll plot two graphs.
The first graph plots logarithms of

* price levels
* exchange rates vis a vis US dollars
* exchange rates vis-à-vis US dollars

For each country, the scale on the right side of a graph will pertain to the price level while the scale on the left side of a graph will pertain to the exchange rate.

Expand All @@ -392,7 +392,7 @@ For each country, the second graph plots a centered three-month moving average o

The sources of our data are:

* Table 3.3, $\exp p$
* Table 3.3, retail price level $\exp p$
* Table 3.4, exchange rate with US

```{code-cell} ipython3
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