Orphanides, Athanasios (contributor); … - 2003 - [Elektronische Ressource]
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Keywords: Monetary policy, stagflation, rational expectations, learning.
JEL Classification System: E52
Correspondence … 1960s was soon overshadowed by the stagflation–high inflation
accompanied by high unemployment–in the 1970s.
In this paper …, we reexamine the sources of stagflation in the 1970s, and argue that the
combination of monetary policy directed at tight …