Moorthy, Vivek; Kolhar, Shrikant - In: Indian Growth and Development Review 4 (2011) 1, pp. 73-94
rising food prices on GDP, on measures of inflation, and on welfare, in the model. Findings – Previously neglected evidence … indicates that stagflation (simultaneously rising unemployment and inflation) preceded the OPEC price hike. The model results … deflator measures of inflation. It also highlights a possible similar divergence between GDP and overall welfare. …