Kolodko, Grzegorz W; McMahon, Walter W - In: Kyklos 40 (1987) 2, pp. 176-97
This paper compares inflation and unemployment in western mark et economies with the repressed inflation and persistent shortages co mmon in centrally-planned economies. Stagflation and shortageflation, the latter defined as inflation accompanied by shortages, have much in common, as is...