Marjit, Sugata; Bhattacharyya, Ranajoy; Yang, Lei - 2023
contemporary evidence of stagflation in developed countries. Being the residual sector, the informal sector inevitably moves in the … shocks have a lower impact on prices as well as output. Both would imply that countries without having substantial informal … sector, largely more affluent nations, would be exposed more to higher prices following such shocks. This is consistent with …