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Persistent link: https://www.econbiz.de/10002174409
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The paper attributes the behavior of U.S. inflation to four sets of factors: aggregate demand shifts; government intervention in the form of the Nixon price controls and changes in the social security tax rate and the effective minimum wage; external supply shocks that include the impact of the...
Persistent link: https://www.econbiz.de/10013220829
The paper attributes the behavior of U.S. inflation to four sets of factors: aggregate demand shifts; government intervention in the form of the Nixon price controls and changes in the social security tax rate and the effective minimum wage; external supply shocks that include the impact of the...
Persistent link: https://www.econbiz.de/10012478584
This paper presents a single reduced-form inflation equation that can explain both the variance and acceleration of inflation during the 1970s.Inflation is explained by four sets of factors. Aggregate demand enters through the lagged output ratio and the growth rate of nominal GNP. The...
Persistent link: https://www.econbiz.de/10012478585
This paper presents a single reduced-form inflation equation that can explain both the variance and acceleration of inflation during the 1970s.Inflation is explained by four sets of factors. Aggregate demand enters through the lagged output ratio and the growth rate of nominal GNP. The...
Persistent link: https://www.econbiz.de/10013293712
This paper presents a single reduced-form inflation equation that can explain both the variance and acceleration of inflation during the 1970s.Inflation is explained by four sets of factors. Aggregate demand enters through the lagged output ratio and the growth rate of nominal GNP. The...
Persistent link: https://www.econbiz.de/10005714823
The paper attributes the behavior of U.S. inflation to four sets of factors: aggregate demand shifts; government intervention in the form of the Nixon price controls and changes in the social security tax rate and the effective minimum wage; external supply shocks that include the impact of the...
Persistent link: https://www.econbiz.de/10005718785