Abstract
Monetarist policies, together with the second oil price shock, intensified global economic problems. Monetarism was adopted to prevent a repeat of the rapid inflation following the 1973-1974 oil price increase. The resulting high interest and exchange rates and high unemployment have affected even those countries that didn't convert to monetarism, with developing countries suffering the most. As an oil producer and despite the North Sea resources, the United Kingdom has had an especially bad tradeoff between inflation and growth. A better policy than monetarism would have been accommodation of a short-term inflaction moderated by an effective income policy. (DCK)
Citation Formats
Johnson, C.
Oil and monetarism do not mix.
United Kingdom: N. p.,
1983.
Web.
Johnson, C.
Oil and monetarism do not mix.
United Kingdom.
Johnson, C.
1983.
"Oil and monetarism do not mix."
United Kingdom.
@misc{etde_5532571,
title = {Oil and monetarism do not mix}
author = {Johnson, C}
abstractNote = {Monetarist policies, together with the second oil price shock, intensified global economic problems. Monetarism was adopted to prevent a repeat of the rapid inflation following the 1973-1974 oil price increase. The resulting high interest and exchange rates and high unemployment have affected even those countries that didn't convert to monetarism, with developing countries suffering the most. As an oil producer and despite the North Sea resources, the United Kingdom has had an especially bad tradeoff between inflation and growth. A better policy than monetarism would have been accommodation of a short-term inflaction moderated by an effective income policy. (DCK)}
journal = []
volume = {3}
journal type = {AC}
place = {United Kingdom}
year = {1983}
month = {Jan}
}
title = {Oil and monetarism do not mix}
author = {Johnson, C}
abstractNote = {Monetarist policies, together with the second oil price shock, intensified global economic problems. Monetarism was adopted to prevent a repeat of the rapid inflation following the 1973-1974 oil price increase. The resulting high interest and exchange rates and high unemployment have affected even those countries that didn't convert to monetarism, with developing countries suffering the most. As an oil producer and despite the North Sea resources, the United Kingdom has had an especially bad tradeoff between inflation and growth. A better policy than monetarism would have been accommodation of a short-term inflaction moderated by an effective income policy. (DCK)}
journal = []
volume = {3}
journal type = {AC}
place = {United Kingdom}
year = {1983}
month = {Jan}
}