Models of Stagflation

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Models of Stagflation

  1. 1. EC6012 Lecture 9 Models of Stagflation Stephen Kinsella March 23, 2008
  2. 2. Today Introduction Data A Simple Macrodynamic Model Introduction The Model The Output Market Equilibrium in the product and money markets Examples Aggregate supply The Phillips curve Dynamics of asset accumulation Expectations Bernanke-Blinder Model An SFC Inside-Outside Model
  3. 3. Stagflation A stagflationary economy experiences a slowing of growth combined with rising inflation. Episodes of stagflation occurred in the world economy in the late 1970’s and early 1980’s.

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