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contemporary evidence of stagflation in developed countries. Being the residual sector, the informal sector inevitably moves in the …
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The evolution of unemployment in West Germany and the U. S. stands in sharp contrast, with German unemployment much lower from 1960 to the early 1970s but substantially higher from 1984 to 1988. This paper provides a framework for examining the relationship between inflation and unemployment...
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developments, the risk of stagflation-a combination of high inflation and sluggish growth-has risen. The recovery from the … stagflation of the 1970s required steep increases in interest rates by major advanced-economy central banks to quell inflation …
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