U.S. Economy
Candidates’ contrasting plans for the Federal Reserve
Research
BPEA | 1974 No. 1The 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
JLP
James L. Pierce
Staff, Board of Governors of the Federal Reserve System
JJE
Jared J. Enzler
Staff, Board of Governors of the Federal Reserve System
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.
Economic Indicators
u* = √uv: The full-employment rate of unemployment in the United States