... below its ordinarylevel, and keep it so for some years, then the prices ofall commodities would rise and rise without any limitwhatever; on the contrary, if the leading banks were toraise their ... capital, or in otherwords, how profitable investment in capital is. Theproductivity of capital will be affected by how, and in what combination, capital is used with other inputs in theproduction ... Zealand and those in Australia and the United States.The currency risk premium was then derived from actualinterest rate differentials between New Zealand and Australia and New Zealand and...