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  • From stagflation to depression

    The relative success of the fight against inflation and excessive attention over the short period tend to mask trend developments in developed economies. The political consensus on the idea of restoring the “big balances” means that the reasons for the continuing rise in unemployment in Europe — a f...

  • The macroeoconomists and stagflation : essays on the transformations of macroeconomics in the 1970s

    This thesis focuses on the transformations of macroeconomics in the United States during the 1970s, while questioning the way to study and to analyze these transformations. From the point of view of economic history, the period seems to mark a break with the relative stability post World War II year...

  • CONSTITUTIONAL ECONOMICS, FISCAL POLICY RULES, ANDTHECASE OF TURKEY

    Discretionary fiscal policies have arisen because of dominant Keynesianeconomic policies from 1930’s to 1970’s. Public expenditures intensively andexcessively increased in order to ensure macroeconomic stability during thisperiod. Many countries faced the emergence...

  • How Distortion on the Electric Power Market Can Lead to Stagflation

    <p>At the time of the possible closure of the significant Slovenian classical electricity production in the Šoštanj Thermal Power Plant and related Velenje Coal Mine, as well as the termination of the subsidies of cost-inefficient electric power production in EU member states, electricity prices in...

  • Energy and money in new frameworks for macro-dynamics

    Ever since the stagflation that followed the oil price run-ups of 1973 and 1979, oil price shocks have been considered one of the most influential sources of economic fluctuation in the United States and other developed countries. A large body of literature has analyzed oil price shocks as sources o...

  • A theory of the 1980s

    The 1980s present, for the usual macroeconomic analyses, major enigmas, including the persistence of high unemployment in Europe and the de-synchronisation of US and European conjunctures during the first half of the decade. New “facts”, which distinguish the period under consideration, are not prop...

  • How to Tell the History of European Integration in the 1970s

    ResumeThe ‘Years 1970’ are a controversial period, not only in the history of European construction. Was Europe in crisis, with a stagnating political system and outstanding key political projects? Or was it strong enough to deal effectively with the defences of the dollar crisis, oil shocks and sta...

  • New Economy-New Policy Rules?

    The United States economy appears to have experienced a pronounced shift toward higher productivity over the last five years or so. To understand the implications of such shifts for the structure of optimal monetary policy rules in simple dynamic economies, the authors begin with a standard economy...

  • Crisis of What?

    This sharp question is appropriately thought-provoking. We certainly have been living through a great capitalist crisis, really only the fourth crisis of such scale after the so-called Great Depression of 1873-96, the more familiar Great Depression of the 1930s, and the global stagflation and profit...

  • A financial guideline and a description of the non-communities

    , in particular, II. After World War II, increasing public expenditure and budget deficits led countries to find permanent solutions. This need has been intensified with crises from Stagflation and budget deficits. First, the theory of financial rules emerged and applied in many countries. Following...

  • Whither the US economy?

    The economic performance of the US is viewed by the majority of professional analysts as being superior to that of other major industrialised countries. Some refer to the recent US experience as the “New Paradigm”, characterized by sustained economic growth, low inflation, low unemployment and low i...

  • Comparative Study of Macroeconomic Effects of Oil Shocks, before and after Mid 80s: The Case of Oil Exporting Countries

    countries. It seems that these effects have modified during the last four decades. In other words, the effects of the oil shocks of 1970s on the industrialized economies of the oil importing countries have been mostly followed by an overwhelming stagflation, although such severe effects have not app...

  • Thomas Sargent face à Robert Lucas : une autre ambition pour la Nouvelle Economie Classique

    The article shows that Sargent’s macroeconomic vision differs from Lucas' one. For the latter, the assumptions of a model are “un-realistic”, i.e., the model does not aim to represent reality. It is a simulation tool that allows the assessment of different economic policies. The “Lucasian” ideal is...

  • From the Stagflation to the Great Inflation: Explaining the US economy of the 1970s

    This article proposes a history of the evolution of macroeconomists’ explanations of the 1970s US stagflation, from 1975 to 2013. Using qualitative and quantitative methods, 1) I observe the different types of explanations coexisting at different periods; 2) I assess which was the dominant type of e...

  • —Neutral links in the fight. Inter-field consolidation and multi-sectoral international organisation —

    Collection of International Organisations (IO) studies — this article looks at the controversy that the government knowledge they produce causes or feeds into academic fields. In this way, cross-sector or cross-field competition and consolidation processes are brought to light, linking certain secto...

  • Thomas Ssilver against Robert Lucas: another ambition for the New Classical Economy

    The article shows that Ssilver’s macro-economy contrasts with that of Lucas. For Lucas, the assumptions of a model are “a-realistic”, the model is not intended to represent reality. It is a simulation tool designed to simulate different economic policies. The ideal ‘lucassien’ is that of a macroecon...

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