Title

Supply Shocks in Macroeconomics

Document Type

Discussion Paper

Publication Date

2-1-1987

CFDP Number

821

CFDP Pages

18

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.

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