The Cost of UK Disinflation in the Early 1980s
Between 1980 and 1984, the United Kingdom's government successfully implemented policies that reduced the annual inflation rate from over 15% to below 5%. Despite this success in controlling prices, this period is widely cited as an example of a 'costly disinflation'. Explain what the primary 'cost' was in this context.
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Ch.4 Inflation and unemployment - The Economy 2.0 Macroeconomics @ CORE Econ
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Ch.5 Macroeconomic policy: Inflation and unemployment - The Economy 2.0 Macroeconomics @ CORE Econ
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The Cost of UK Disinflation in the Early 1980s