Macroeconomics of Stagflation under Flexible Exchange Rates

Pentti J.K. Kouri

NBER Working Paper No. 868
Issued in March 1982
NBER Program(s):   ITI   IFM

The concerns of macroeconomic policy in the industrial countries in recent years have shifted the focus of open-economy macroeconomics to new and interesting problems. Although no synthesis, or a fully coherent theory of policy, has yet emerged from this research, the results have already led to major revisions in views abut the nature of the problems that policy has to deal with. This paper provides a selective survey and discussion of some of the results of recent research with emphasis on their implications for policy.

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Document Object Identifier (DOI): 10.3386/w0868

Published: Kouri, Pentti J. K. "Macroeconomics of Stagflation under Flexible Exchange Rates." American Economic Review, Vol. 72, No. 2. (1982).