Supply Shocks in Macroeconomics

Matthew Shapiro

No 821, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: Supply shocks played an important role in macroeconomic fluctuations during the 1970's. Supply shocks are also increasingly important in Keynesian and neo-classical models of the business cycle. This paper is a short survey of these theoretical models. It also discusses the history of supply shocks in recent business cycles.

Keywords: Supply shocks; macroeconomic fluctuations; business cycles (search for similar items in EconPapers)
Pages: 18 pages
Date: 1987-02
References: View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Published in The New Palgrave, London, 1987; and The New Palgrave Dictionary of Money and Finance, London, 1992

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Working Paper: Supply Shocks in Macroeconomics (1987)
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