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Oil and the Macroeconomy Since the 1970s

Barsky, Robert - 2004

none of the more recent oil price shocks has been associated with stagflation in the US economy, a major reason for the … stagflation of the 1970s. We show that this is not the case …

Persistent link: https://www.econbiz.de/10012467834

What Determines the Sacrifice Ratio?

Ball, Laurence - 1993

This paper investigates the determinants of the "sacrifice ratio" for disinflation: the ratio of the loss in output to the fall in trend inflation. I develop a method for estimating the sacrifice ratio in individual disinflation episodes, and apply it to 65 episodes in moderate-inflation OECD...

Persistent link: https://www.econbiz.de/10012474654