• Graduate program
    • Why Tinbergen Institute?
    • Program Structure
    • Courses
    • Course Registration
    • Facilities
    • Admissions
    • Recent PhD Placements
  • Research
  • News
  • Events
    • Summer School
      • Summer School
      • Behavioral Macro and Complexity
      • Climate Change
      • Econometrics and Data Science Methods for Business, Economics and Finance
      • Networks in Micro- and Macroeconomics
      • Business Data Science Summer School Program
    • Events Calendar
    • Events Archive
    • Tinbergen Institute Lectures
    • Conference: Consumer Search and Markets
    • Annual Tinbergen Institute Conference
  • Summer School
  • Alumni
  • Times

Van Wijnbergen, S. (1984). Inflation, employment, and the Dutch disease in oil-exporting countries: a short-run disequilibrium analysis. Quarterly Journal of Economics, 99(2):233--250.


  • Journal
    Quarterly Journal of Economics

Explains nontraded goods and labour shortages in the Gulf countries, the decline of the traded goods sector in oil producers ('Dutch disease'), and the absence of employment benefits of higher oil revenues in Latin American oil producers using a disequilibrium model where real wages and the real exchange rate adjust slowly to clear the labour and nontraded goods market. The slope of the wage indexation line determines whether classical unemployment or repressed inflation results. Various policy measures are analyzed.-from Author