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A Monetary Explanation of the Great Stagflation of the 1970s
Barsky, Robert - 2000
The origins of stagflation and the possibility of its recurrence continue to be an important concern among policymakers … and in the popular press. It is common to associate the origins of the Great Stagflation of the 1970s with the two major … of the causal mechanism generating stagflation as is often thought. We provide a model that can explain the bulk of …
Persistent link: https://www.econbiz.de/10012471228
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Stagflation and Productivity Decline in Canada, 1974-1982
Helliwell, John F. - 1983
The MACE model of Canada employs a nested production structure in which there is a vintage bundle of capital and energy that is combined with efficiency units of labour to define potential output for given quantities of employed factors. The actual level of output is derived from an estimated...
Persistent link: https://www.econbiz.de/10012477914
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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