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User:Taylordw/sandbox/The Great Stagflation

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History

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Causes of the Great Inflation

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Keynesian fine-tuning

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Guns and butter

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Monetary policy

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Diminished Federal Reserve independence

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Cartels and unions

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Exogenous price shocks

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Coincidence

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Causes for the disinflation

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Volcker's monetary policy

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Reagan's anti-union policies

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In retrospect, Volcker stated that, "the most important single action of the administration in helping the anti-inflation fight was defeating the air traffic controllers' strike. ... even though it had not been a wage issue at the time."[1]

Deregulation

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Consequences

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References

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  1. ^ Mussa, Tobin & Volcker 1994, p. 162, paraphrased in a Summary of Discussion from the conference at which the papers collected in this volume were presented, Williamsburg, Virginia, 17–20 October 1990

Bibliography

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  • Barsky, Robert B.; Kilian, Lutz (2002). "Do We Really Know that Oil Caused the Great Stagflation? A Monetary Alternative". In Bernanke, Ben S.; Rogoff, Kenneth (eds.). NBER Macroeconomics Annual 2001. Vol. Volume 16. Cambridge, Mass.: The MIT Press. pp. 137–198. ISBN 0-262-02520-5. {{cite book}}: |volume= has extra text (help)
  • Beckerman, Wilfred (1986). "Stagflation and The Third World". In Lall, Sanjaya; Stewart, Frances (eds.). Theory and Reality in Development: Essays in Honour of Paul Streeten. London: Palgrave Macmillan. pp. 38–57. doi:10.1007/978-1-349-18128-5_3. ISBN 978-0-333-39825-8.
  • Blinder, Alan S. (1979). Economic Policy and the Great Stagflation. New York: Academic Press. ISBN 0-12-106162-0.
  • Marczewski, Jean (1982). "A Comparative Analysis of Stagflation in France and Germany, 1971–9". In Kindleberger, Charles P.; di Tella, Guido (eds.). Economics in the Long View: Essays in Honour of W.W. Rostow. Vol. Volume 3, Applications and Cases, Part II. London: Palgrave Macmillan. pp. 175–202. doi:10.1007/978-1-349-06293-5_8. ISBN 978-1-349-06295-9. OCLC 9329679. {{cite book}}: |volume= has extra text (help)
  • Meltzer, Allan H. (2009). A History of the Federal Reserve. Vol. Volume 2, Book 1, 1951–1969. Chicago, Ill.: University of Chicago Press. ISBN 978-0-226-52001-8. {{cite book}}: |volume= has extra text (help)
  • Meltzer, Allan H. (2009). A History of the Federal Reserve. Vol. Volume 2, Book 2, 1970–1986. Chicago, Ill.: University of Chicago Press. ISBN 978-0-226-51994-4. {{cite book}}: |volume= has extra text (help)
  • Mussa, Michael L.; Tobin, James; Volcker, Paul A. (1994). "Monetary Policy". In Feldstein, Martin (ed.). American Economic Policy in the 1980s. Chicago, Ill.: National Bureau of Economic Research / University of Chicago Press. pp. 81–164. ISBN 0-226-24093-2.
  • Samuelson, Robert J. (2008). The Great Inflation and Its Aftermath: The Past and Future of American Affluence. New York: Random House. ISBN 978-0-375-50548-5.