User:Taylordw/sandbox/The Great Stagflation

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

  1. ^ 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. {{cite book}}: |volume= has extra text (help)
  • 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.
  • 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. {{cite book}}: |volume= has extra text (help)
  • 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}}: |volume= 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. {{cite book}}: |volume= has extra text (help)
  • 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.
  • 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.