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.
1. Introduction Part 1: Theory and General Issues 2. Costs and Benefits of an Anti-Inflationary Policy: Questions and Issues Willem H. Buiter and Marcus H. Miller 3. Contracts, Credibility and Disinflation Stanley Fischer 4. The Design of Monetary and Fiscal Policy: Monetarism and Supply-Side Economics Victor Argy 5. Some Macroeconomic Implications of Wage Indexation: A Survey Jeffrey Carmichael, Jerome Fahrer and John Hawkins Part 2: Experience in Developed Countries 6. Fiscal and Monetary Strategy in OECD Countries: A Review of Recent Experiences Jean-Claude Chouraqui and Robert Price 7. Some Conclusions from Incomes Policy Experience in Industrial Countries Anne Romanis Braun 8. Government Policies Towards Inflation and Unemployment in West Germany Manfred Willms and Ingo Karsten 9. Lessons from the Macroeconomic Performance of the Japanese Economy K. Hamada 10. Inflation in the United Kingdom M. J. Artis and M. K. Lewis 11. Inflation and Unemployment in the United States: Recent Experience and Policies 12. Adjustment Performance of Small Open Economies: Some International Comparisons W. D. McClam and P. S. Andersen Part 3: The Particular Case of Australia 13. The Australian Economy in the 1930s and 1980s: Some Facts P. D. Jonson and G. R. Stevens 14. Monetary and Fiscal policy in Australia J. R. Hewson and J. W. Nevile 15. Unemployment, Inflation and Job Creation Policies in Australia R. G. Gregory and R. E. Smith 16. Wages, Unemployment and Inflation in Australia D. Challen 17. Indexed Securities T. J. Valentine