| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6634 |
| DP6634 From Cities to Productivity and Growth in Developing Countries | |
| Gilles Gilles Duranton | |
| 发表日期 | 2008-01-11 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | We characterize the macroeconomic performance of a set of industrialized economies in the aftermath of the oil price shocks of the 1970s and of the last decade, focusing on the differences across episodes. We examine four different hypotheses for the mild effects on inflation and economic activity of the recent increase in the price of oil: (a) good luck (i.e. lack of concurrent adverse shocks), (b) smaller share of oil in production, (c) more flexible labour markets, and (d) improvements in monetary policy. We conclude that all four have played an important role. |
| 主题 | International Macroeconomics |
| 关键词 | Great moderation Monetary policy credibility Real wage rigidities Sticky prices |
| URL | https://cepr.org/publications/dp6634 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535468 |
| 推荐引用方式 GB/T 7714 | Gilles Gilles Duranton. DP6634 From Cities to Productivity and Growth in Developing Countries. 2008. |
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