When has a surge in demand been cancelled out by a negative supply shock?

In OECD countries, w hen there is a large surge in demand for goods and services, the risk is that it will lead to a fall in supply, due in particular to an increase in commodity prices or in wages. As this question is now being raised, we look to the past to see whether an ex ante increase in demand has resulted in no increase in production due to a negative supply shock caused by an increase in the prices of commodities and intermediate consumption. This was the case from 1974 to 1984, from 2003 to 2008 and from 2010 to 2013. Policymakers must therefore be careful to not stimulate demand to the point where it causes a negative supply shock.