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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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The Supply-Shock Explanation of the Great Stagflation Revisited
Blinder, Alan S. - 2008
U.S. inflation data exhibit two notable spikes into the double-digit range in 1973-1974 and again in 1978-1980. The well-known "supply-shock" explanation attributes both spikes to large food and energy shocks plus, in the case of 1973-1974, the removal of price controls. Yet critics of this...
Persistent link: https://www.econbiz.de/10012464085
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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