Abstract
This paper thoroughly analyzes stagflation and recession along with their causes, effects and approaches to resolve them. Detailed literature on stagflation and recession provides value added analysis. In-depth review provides analysis about the history of stagflation, its effects and approaches to solve it. In addition, detailed reviews of recession, causes of major recessions, major sources of pressure for recession are thoroughly covered. Findings suggest that economies cannot completely avoid stagflation and recession, but they can reduce the effect of these factors on the economy.
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