The Effects of External Inflationary Shocks

James L. Pierce and Jared J. Enzler

Discussants: David I. Fand and R. J. Gordon

1974, No. 1

THE ECONOMY IS ALWAYS VULNERABLE to a variety of external influences or shocks that have important impacts on income, employment, and prices. While these external shocks are unforeseeable and unavoidable, economic policy must somehow deal with their consequences.

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The Effects of External Inflationary Shocks

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The Effects of External Inflationary Shocks

James L. Pierce and JLP James L. Pierce Staff, Board of Governors of the Federal Reserve System Jared J. Enzler JJE Jared J. Enzler Staff, Board of Governors of the Federal Reserve System Discussants: David I. Fand and DIF David I. Fand R. J. Gordon RJG R. J. Gordon

James L. Pierce and Jared J. Enzler

Discussants: David I. Fand and R. J. Gordon