Originally published in 1985 and contributed to by internationally renowned economists, this volume discusses theoretical issues and country-specific experiences to review the underlying causes of the stagflation of the 1970s and early 1980s, as well as summarizing the kinds of macro-policies that were adopted to deal with the stagflation.


chapter 1|7 pages


ByV. Argy, J.W. Nevile

part I|94 pages

Theory and General Issues

chapter 2|28 pages

Costs and Benefits of an Anti-Inflationary Policy: Questions and Issues

ByWillem H. Buiter, Marcus H. Miller

chapter 3|21 pages

Contracts, Credibility and Disinflation

ByStanley Fischer

chapter 5|25 pages

Some Macroeconomic Implications of Wage Indexation: A Survey

ByJeffrey Carmichael, Jerome Fahrer, John Hawkins

part II|175 pages

Experience in Developed Countries

chapter 6|29 pages

Fiscal and Monetary Strategy in OECD Countries: A Review of Recent Experiences

ByJean-Claude Chouraqui, Robert Price

chapter 7|19 pages

Some Conclusions from Incomes Policy Experience in Industrial Countries 1

ByAnne Romanis Braun

chapter 8|28 pages

Government Policies towards Inflation and Unemployment in West Germany

ByManfred Willms, Ingo Karsten

chapter 9|19 pages

Lessons from the Macroeconomic Performance of the Japanese Economy *

ByKöichi Hamada

chapter 10|21 pages

Inflation in the United Kingdom

ByM. J. Artis, M. K. Lewis

chapter 12|29 pages

Adjustment Performance of Small, Open Economies: Some International Comparisons

ByW. D. McClam, P. S. Andersen

part III|106 pages

The Particular Case of Australia

chapter 13|24 pages

The Australian Economy in the 1930s and the 1980s: Some Facts

ByP. D. Jonson, G. R. Stevens

chapter 14|20 pages

Monetary and Fiscal Policy in Australia

ByJ. R. Hewson, J. W. Nevile

chapter 15|21 pages

Unemployment, Inflation and Job Creation Policies in Australia

ByR. G. Gregory, Ralph E. Smith

chapter 16|24 pages

Wages, Unemployment and Inflation

ByD. W. Challen

chapter 17|15 pages

Indexed Securities

ByT. J. Valentine