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generated the stagflation of the 1970s as is often thought. There is neither a theoretical presumption that oil supply shocks … contractions can generate stagflation of realistic magnitude even in the absence of supply shocks. Furthermore, monetary … coincidence of major oil price increases and worsening stagflation …
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none of the more recent oil price shocks has been associated with stagflation in the US economy, a major reason for the … stagflation of the 1970s. We show that this is not the case …
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none of the more recent oil price shocks has been associated with stagflation in the US economy, a major reason for the … stagflation of the 1970s. We show that this is not the case …
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