Economics of Worldwide Stagflation / / Michael Bruno, Jeffrey D. Sachs.
This book sets forth both a theory and a comparative empirical analysis of stagflation, that peculiar combination of high unemployment, slow growth, and spurts of high inflation bedeviling the advanced industrial nations during the past fifteen years. The authors first construct a small macroeconomi...
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Place / Publishing House: | Cambridge, MA : : Harvard University Press, , [2013] ©1985 |
Year of Publication: | 2013 |
Edition: | Reprint 2014 |
Language: | English |
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Physical Description: | 1 online resource (315 p.) :; 64 tables, 29 line illustrations |
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Bruno, Michael, author. aut http://id.loc.gov/vocabulary/relators/aut Economics of Worldwide Stagflation / Michael Bruno, Jeffrey D. Sachs. Reprint 2014 Cambridge, MA : Harvard University Press, [2013] ©1985 1 online resource (315 p.) : 64 tables, 29 line illustrations text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Frontmatter -- Acknowledgments -- Contents -- Introduction -- 1. Elements of a Theory -- 2. Production, Technology, and the Factor Price Frontier -- 3. Factor Adjustment to Supply Price Shocks -- 4. Savings, Investment, and Capital Flows -- 5. Stagflation and Short-Run Adjustment -- 6. Macroeconomic Adjustment and Policy Coordination in a Global Setting -- 7. Simulation Models -- 8. Empirical Overview of Stagflation in the OECD -- 9. Real Wages and Unemployment -- 10. Price and Output Dynamics in Eight Economies -- 11. Labor Markets and Comparative Macroeconomic Performance -- 12. Supply Shocks, Demand Response, and the Productivity Puzzle -- 13. Lessons for Theory and Policy -- Notes. Bibliography. Index restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star This book sets forth both a theory and a comparative empirical analysis of stagflation, that peculiar combination of high unemployment, slow growth, and spurts of high inflation bedeviling the advanced industrial nations during the past fifteen years. The authors first construct a small macroeconomic model that takes full account of aggregate demand and supply forces in the determination of output, employment, and the price level, in both a single-economy and a multi-economy setting. They then apply the model to provide an understanding of comparative performance of industrial countries in the areas of unemployment, inflation, productivity, and investment growth. They argue convincingly that the decay of the major economies during this period resulted from the supply shocks of the 1970s, such as the two major OPEC oil-price increases, and from the consequent policy-induced decrease in demand in response to inflationary pressures. Their analysis differs markedly from similar studies in that it takes specific account of institutional differences in the labor markets of the various economies. This helps to explain in particular the divergent adjustment profiles of the United States and Europe. Bruno and Sachs make several key recommendations for the mix of demand management and incomes policies necessary to combat stagflation in individual countries as well as for the coordination of macroeconomic policies among the major industrial nations. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 29. Nov 2021) Chômage, Effets de l'inflation sur le. Développement économique. Economic development. Economic history. Konjunkturzusammenhang. Macroeconomics. Macroéconomie. OECD-Staaten. Stagflatie. Stagflation. Theorie. Werkgelegenheid. Wirtschaft. Wirtschaftspolitik. BUSINESS & ECONOMICS / General. Economic history -- 1971-1990. Unemployment -- Effect of inflation on. BUSINESS & ECONOMICS / General. bisacsh Sachs, Jeffrey D., author. aut http://id.loc.gov/vocabulary/relators/aut Title is part of eBook package: De Gruyter HUP eBook Package Archive 1893-1999 9783110442212 print 9780674493032 https://doi.org/10.4159/harvard.9780674493049 https://www.degruyter.com/isbn/9780674493049 Cover https://www.degruyter.com/document/cover/isbn/9780674493049/original |
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English |
format |
eBook |
author |
Bruno, Michael, Bruno, Michael, Sachs, Jeffrey D., |
spellingShingle |
Bruno, Michael, Bruno, Michael, Sachs, Jeffrey D., Economics of Worldwide Stagflation / Frontmatter -- Acknowledgments -- Contents -- Introduction -- 1. Elements of a Theory -- 2. Production, Technology, and the Factor Price Frontier -- 3. Factor Adjustment to Supply Price Shocks -- 4. Savings, Investment, and Capital Flows -- 5. Stagflation and Short-Run Adjustment -- 6. Macroeconomic Adjustment and Policy Coordination in a Global Setting -- 7. Simulation Models -- 8. Empirical Overview of Stagflation in the OECD -- 9. Real Wages and Unemployment -- 10. Price and Output Dynamics in Eight Economies -- 11. Labor Markets and Comparative Macroeconomic Performance -- 12. Supply Shocks, Demand Response, and the Productivity Puzzle -- 13. Lessons for Theory and Policy -- Notes. Bibliography. Index |
author_facet |
Bruno, Michael, Bruno, Michael, Sachs, Jeffrey D., Sachs, Jeffrey D., Sachs, Jeffrey D., |
author_variant |
m b mb m b mb j d s jd jds |
author_role |
VerfasserIn VerfasserIn VerfasserIn |
author2 |
Sachs, Jeffrey D., Sachs, Jeffrey D., |
author2_variant |
j d s jd jds |
author2_role |
VerfasserIn VerfasserIn |
author_sort |
Bruno, Michael, |
title |
Economics of Worldwide Stagflation / |
title_full |
Economics of Worldwide Stagflation / Michael Bruno, Jeffrey D. Sachs. |
title_fullStr |
Economics of Worldwide Stagflation / Michael Bruno, Jeffrey D. Sachs. |
title_full_unstemmed |
Economics of Worldwide Stagflation / Michael Bruno, Jeffrey D. Sachs. |
title_auth |
Economics of Worldwide Stagflation / |
title_alt |
Frontmatter -- Acknowledgments -- Contents -- Introduction -- 1. Elements of a Theory -- 2. Production, Technology, and the Factor Price Frontier -- 3. Factor Adjustment to Supply Price Shocks -- 4. Savings, Investment, and Capital Flows -- 5. Stagflation and Short-Run Adjustment -- 6. Macroeconomic Adjustment and Policy Coordination in a Global Setting -- 7. Simulation Models -- 8. Empirical Overview of Stagflation in the OECD -- 9. Real Wages and Unemployment -- 10. Price and Output Dynamics in Eight Economies -- 11. Labor Markets and Comparative Macroeconomic Performance -- 12. Supply Shocks, Demand Response, and the Productivity Puzzle -- 13. Lessons for Theory and Policy -- Notes. Bibliography. Index |
title_new |
Economics of Worldwide Stagflation / |
title_sort |
economics of worldwide stagflation / |
publisher |
Harvard University Press, |
publishDate |
2013 |
physical |
1 online resource (315 p.) : 64 tables, 29 line illustrations |
edition |
Reprint 2014 |
contents |
Frontmatter -- Acknowledgments -- Contents -- Introduction -- 1. Elements of a Theory -- 2. Production, Technology, and the Factor Price Frontier -- 3. Factor Adjustment to Supply Price Shocks -- 4. Savings, Investment, and Capital Flows -- 5. Stagflation and Short-Run Adjustment -- 6. Macroeconomic Adjustment and Policy Coordination in a Global Setting -- 7. Simulation Models -- 8. Empirical Overview of Stagflation in the OECD -- 9. Real Wages and Unemployment -- 10. Price and Output Dynamics in Eight Economies -- 11. Labor Markets and Comparative Macroeconomic Performance -- 12. Supply Shocks, Demand Response, and the Productivity Puzzle -- 13. Lessons for Theory and Policy -- Notes. Bibliography. Index |
isbn |
9780674493049 9783110442212 9780674493032 |
url |
https://doi.org/10.4159/harvard.9780674493049 https://www.degruyter.com/isbn/9780674493049 https://www.degruyter.com/document/cover/isbn/9780674493049/original |
illustrated |
Not Illustrated |
dewey-hundreds |
300 - Social sciences |
dewey-tens |
330 - Economics |
dewey-ones |
330 - Economics |
dewey-full |
330.9/04 |
dewey-sort |
3330.9 14 |
dewey-raw |
330.9/04 |
dewey-search |
330.9/04 |
doi_str_mv |
10.4159/harvard.9780674493049 |
oclc_num |
900820806 |
work_keys_str_mv |
AT brunomichael economicsofworldwidestagflation AT sachsjeffreyd economicsofworldwidestagflation |
status_str |
n |
ids_txt_mv |
(DE-B1597)250404 (OCoLC)900820806 |
carrierType_str_mv |
cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter HUP eBook Package Archive 1893-1999 |
is_hierarchy_title |
Economics of Worldwide Stagflation / |
container_title |
Title is part of eBook package: De Gruyter HUP eBook Package Archive 1893-1999 |
author2_original_writing_str_mv |
noLinkedField noLinkedField |
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