What happened during the Great Inflation?
Levin and Taylor have a new paper arguing that the Fed’s stop-go policies were the main cause of rising inflation during the 1970s. They argue that political factors are the most likely reason for these policies. I explore the political constraints facing the Fed in the paper below.
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Charles L. Weise
Associate Professor, Chair
Department of Economics
Gettysburg College
Gettysburg, PA 17325-1486
717-337-6672
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From: Posterous [mailto:post@posterous.com]
Sent: 2009-05-29 10:45
To: Charles Weise
Subject: Posterous | Re: My First Blog Post
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