Introduction
This is an interim lecture about stagflation, a situation we might actually find ourselves in sooner rather than later. We’ll define stagflation, look at episodes of stagflation in recent economic history, and study a model to explain and perhaps manage stagflation in the macroeconomy. We’ll relate the insights of these models to policies you might see implemented in the US Economy in the near future, and talk about what this might mean for Ireland's economy going forward. Get your slides and handouts while they're hot.
Slides
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Handouts
Click the link below for links, a timeline, and a link to the paper we'll use in the paper.
Timeline:
Sept 18:
- CPI (consumer price index) 2.3%
- PPI (producer price index) 2.3%
- PCE (personal consumption expenditure) deflator 2.5%
- Gold $714
Oct 31
- CPI 3.5%
- PPI 6.1%
- PCE deflator 3.0%
- Gold $790
Dec 11
- CPI 4.1%
- PPI 6.3%
- PCE deflator 3.6%
- Gold $811
Jan 22
- CPI 4.3%
- PPI 7.4%
- PCE deflator 3.7%
- Gold $893
Jan 30
- CPI 4.3%
- PPI 7.4%
- PCE deflator 3.7%
- Gold $921
Mar 18
- CPI 4.0%
- PPI 6.4%
- PCE deflator 3.7%
- Gold $1004
Links
(blogs to get the current situation)