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EC6012 Lecture 9
Models of Stagflation


  Stephen Kinsella


  March 23, 2008
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
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.
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation
Models of Stagflation

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Models of Stagflation

  • 1. EC6012 Lecture 9 Models of Stagflation Stephen Kinsella March 23, 2008
  • 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. 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.