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It is common to associate the origins of the Great Stagflation of the 1970s with the two major oil price increases of 1973/74 and 1979/80. This paper argues that oil price increases were not nearly as essential a part of the causal mechanism generating stagflation as is often thought.
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ideas.repec.org/p/nbr/nberwo/7547.html
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Publication status: published as Robert B. Barsky & Lutz Kilian, 2002. "Do We Really Know that Oil Caused the Great Stagflation? A Monetary Alternative," NBER Chapters, in: NBER Macroeconomics Annual 2001, Volume 16, pages 137-198 National Bureau of Economic Research, Inc.
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ideas.repec.org/p/nbr/nberwo/8389.html
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1973 oil crisis - Wikipedia, the free encyclopedia
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The 1973 oil crisis started in October 1973, when the members of Organization of Arab Petroleum Exporting Countries or the OAPEC (consisting of the Arab members of OPEC, plus Egypt and Syria) procla...
en.wikipedia.org/wiki/1973_oil_crisis
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Stephen Roach: "Many of today's investors were still in diapers (blöjor)during the great stagflation of the 1970s. ; Those who weren't will never forget the darkest period in modern financial market history.";
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www.internetional.se/toft/stagflation.htm
www.internetional.se/toft/stagflation.htm
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It is common to associate the origins of the Great Stagflation of the 1970s with the two major oil price increases of 1973/74 and 1979/80. This paper argues that oil price increases were not nearly as essential a part of the causal mechanism generating stagflation as is often thought.
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econpapers.repec.org/paper/nbrnberwo/7547.htm
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I don’t believe our current economic depression will be the Great Depression 2 (my blog’s title is a bit misleading in that regards). Rather, it will be the Great Stagflation. The Carter years of stagflation will look tame by comparison.
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www.greatdepressionversion2.com/this-great-depression-w...
www.greatdepressionversion2.com/this-great-depression-will-be-known-as-the-great-stagflation/
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Alan S. Blinder & Jeremy B. Rudd, 2008. "The Supply Shock Explanation of the Great Stagflation Revisited," Working Papers 1097, Princeton University, Department of Economics, Center for Economic Policy Studies..
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ideas.repec.org/p/nbr/nberwo/14563.html
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Alan S. Blinder, Jeremy B. Rudd ... NBER Working Paper No. 14563; Issued in December 2008; NBER Program(s): DAE EFG; ... U.S. inflation data exhibit two notable spikes into the double-digit range in 1973-1974 and again in 1978-1980. The well-known "supply-shock" explanation attributes both spikes to large food and...
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www.nber.org/papers/w14563
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This allows us to verify if the volatility that characterized the great stagflation could be ascribed to an "inactive" monetary policy, but one that would not necessarily unleash the 4 In the model, perfect observations on the "true" output gap are available to the central bank with a one period delay.
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www.newyorkfed.org/research/economists/tambalotti/3rdpv...
www.newyorkfed.org/research/economists/tambalotti/3rdpv10_web.pdf
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