Should we worry about stagflation?
Pryce, Vicky (2021) Should we worry about stagflation? Birmingham City University, Centre for Brexit Studies Blog.
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Should we worry about stagflation.pdf - Published Version Download (129kB) |
Abstract
Stagflation Is a term used to describe a period of no growth but with high inflation(1). This normally happens when an external shock sends prices higher , such as the oil price crises of the 1970s. Interest rates are then generally raised in reaction which lead to a slowdown in demand. Consumption and investment inevitably drop and a period of weak growth follows until inflation is brought back under control. But because that shock is external and not a result of market forces, the whole episode often lasts longer than it should, causing serious damage to he world economy. Stagnant growth and inflation=stagflation.
| Item Type: | Other | ||||
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| Uncontrolled Keywords: | Centre for Brexit Studies, CBS, Brexit, BCU, EU, European Union, UK, Birmingham City University, UK Government, UK politics | ||||
| Subjects: | CAH15 - social sciences > CAH15-03 - politics > CAH15-03-01 - politics | ||||
| Divisions: | Research, Innovation, Enterprise > Centre for Brexit Studies | ||||
| Depositing User: | Alex De Ruyter | ||||
| Date Deposited: | 07 Feb 2022 10:40 | ||||
| Last Modified: | 07 Feb 2022 10:40 | ||||
| URI: | https://www.open-access.bcu.ac.uk/id/eprint/12771 |
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