👉 In mathematics, an "incipiency" or "inflationary period" is a period of economic growth that typically precedes a recession. It refers to a period when inflation rates are higher than normal due to factors such as increased demand for goods and services, which leads to higher prices in the market. The term was first used by economist Robert C. Shiller in his book "Inflation: The Economics of Money and Credit" (1978). It is often associated with
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