Ball, Laurence M. (contributor); … - 2002 - [Elektronische Ressource]
essay.
The first issue is whether the concept of NAIRU is a useful
piece of business cycle theory. We believe it is, and … students of business cycle theory.
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1. The Role of NAIRU
The word "NAIRU" entered the language of macroeconomics in the
1970 … Block of Macroeconomic Theory
A long tradition in economics emphasizes that the supply of
money influences both inflation …