History edit
Causes of the Great Inflation edit
Keynesian fine-tuning edit
Guns and butter edit
Monetary policy edit
Diminished Federal Reserve independence edit
Cartels and unions edit
Exogenous price shocks edit
Coincidence edit
Causes for the disinflation edit
Volcker's monetary policy edit
Reagan's anti-union policies edit
In retrospect, Volcker stated that, "the most important single action of the administration in helping the anti-inflation fight was defeating the air traffic controllers' strike. ... even though it had not been a wage issue at the time."[1]
Deregulation edit
Consequences edit
References edit
- ^ Mussa, Tobin & Volcker 1994, p. 162, paraphrased in a Summary of Discussion from the conference at which the papers collected in this volume were presented, Williamsburg, Virginia, 17–20 October 1990
Bibliography edit
- Barsky, Robert B.; Kilian, Lutz (2002). "Do We Really Know that Oil Caused the Great Stagflation? A Monetary Alternative". In Bernanke, Ben S.; Rogoff, Kenneth (eds.). NBER Macroeconomics Annual 2001. Vol. Volume 16. Cambridge, Mass.: The MIT Press. pp. 137–198. ISBN 0-262-02520-5.
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- Beckerman, Wilfred (1986). "Stagflation and The Third World". In Lall, Sanjaya; Stewart, Frances (eds.). Theory and Reality in Development: Essays in Honour of Paul Streeten. London: Palgrave Macmillan. pp. 38–57. doi:10.1007/978-1-349-18128-5_3. ISBN 978-0-333-39825-8.
- Blinder, Alan S. (1979). Economic Policy and the Great Stagflation. New York: Academic Press. ISBN 0-12-106162-0.
- Blinder, Alan S. (1982). "The Anatomy of Double-Digit Inflation in the 1970s" (PDF). In Hall, Robert E. (ed.). Inflation: Causes and Effects. Chicago, Ill.: The University of Chicago Press. pp. 261–282. ISBN 0-226-31323-9.
- Blinder, Alan S.; Rudd, Jeremy B. (2013). "The Supply-Shock Explanation of the Great Stagflation Revisited". In Bordo, Michael D.; Orphanides, Athanasios (eds.). The Great Inflation: The Rebirth of Modern Central Banking. Chicago, Ill.: The University of Chicago Press. pp. 119–175. ISBN 978-0-226-06695-0.
- Bordo, Michael D.; Eichengreen, Barry (2013). "Bretton Woods and the Great Inflation" (PDF). In Bordo, Michael D.; Orphanides, Athanasios (eds.). The Great Inflation: The Rebirth of Modern Central Banking. Chicago, Ill.: University of Chicago Press. pp. 449–489. ISBN 978-0-226-06695-0.
- DeLong, J. Bradford (1997). "America's Peacetime Inflation: The 1970s". In Romer, Christina D.; Romer, David H. (eds.). Reducing Inflation: Motivation and Strategy. Chicago, Ill.: University of Chicago Press. pp. 247–280. ISBN 0-226-72484-0.
- Marczewski, Jean (1982). "A Comparative Analysis of Stagflation in France and Germany, 1971–9". In Kindleberger, Charles P.; di Tella, Guido (eds.). Economics in the Long View: Essays in Honour of W.W. Rostow. Vol. Volume 3, Applications and Cases, Part II. London: Palgrave Macmillan. pp. 175–202. doi:10.1007/978-1-349-06293-5_8. ISBN 978-1-349-06295-9. OCLC 9329679.
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- McCarthy, Michael A. (3 August 2016). "The Monetary Hawks". Jacobin. Retrieved 15 February 2017.
- Meltzer, Allan H. (March–April 2005). "Origins of the Great Inflation". Federal Reserve Bank of St. Louis Review. 87 (2 [Part 2]): 145–175.
- Meltzer, Allan H. (2009). A History of the Federal Reserve. Vol. Volume 2, Book 1, 1951–1969. Chicago, Ill.: University of Chicago Press. ISBN 978-0-226-52001-8.
{{cite book}}
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has extra text (help)
- Meltzer, Allan H. (2009). A History of the Federal Reserve. Vol. Volume 2, Book 2, 1970–1986. Chicago, Ill.: University of Chicago Press. ISBN 978-0-226-51994-4.
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- Mitchell, Daniel J.B.; Erickson, Christopher L. (October 2005). "Not Yet Dead at the Fed: Unions, Worker Bargaining, and Economy-wide Wage Determination". Industrial Relations. 44 (4): 565–606. doi:10.1111/j.1468-232X.2005.00403.x.
- Mitchell, Daniel J.B.; Erickson, Christopher L. (2008). "The Concept of Wage-Push Inflation: Development and Policy". Labor History. 49 (4): 417–438. doi:10.1080/00236560802376789. S2CID 153356385.
- Mussa, Michael L.; Tobin, James; Volcker, Paul A. (1994). "Monetary Policy". In Feldstein, Martin (ed.). American Economic Policy in the 1980s. Chicago, Ill.: National Bureau of Economic Research / University of Chicago Press. pp. 81–164. ISBN 0-226-24093-2.
- Nelson, Edward (January 2005). "The Great Inflation of the Seventies: What Really Happened?" (PDF). Berkeley Electronic Journal of Macroeconomics. 5 (1). doi:10.2202/1534-6013.1297. S2CID 201123747.
- Nordhaus, William (6 September 1981). "A Strike Against Inflation". The New York Times. New York. Retrieved 26 January 2017.
- Samuelson, Robert J. (2008). The Great Inflation and Its Aftermath: The Past and Future of American Affluence. New York: Random House. ISBN 978-0-375-50548-5.
- Smith, Karl (8 September 2013). "Everything You Thought You Knew About The 1970s, Inflation And The US Economy Is Wrong". Forbes. Retrieved 15 February 2017.
- Ulman, Lloyd (1998). "The Kennedy and Johnson Guideposts". In Voos, Paula B. (ed.). Industrial Relations Research Association Series: Proceedings of the Fiftieth Annual Meeting, January 3–5, 1998, Chicago, Volume 1. Madison, Wis.: Industrial Relations Research Association, University of Wisconsin–Madison. pp. 168–175. ISBN 0-913447-72-2. OCLC 41519185.