This paper explores the determinants of stagflation. Three measures are proposed that gauge both the occurrence and the … strength of stagflation. We investigate the empirical determinants of these measures, accounting for a range of theoretical … find clear evidence that adverse supply-shocks enhance the probability and the magnitude of stagflation. However, while …

Stagflation has decayed the world economy during the 1970s and the early 1980s. Recent empirical studies suggest that … unanswered: is stagflation still a problem in the world economy? What factors other than the oil price cause stagflation? What … affects the extent of stagflation? Did the determinants of stagflation change over time? Are there differences between the …