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"During the economic expansion of the 1990s, the United States enjoyed both low inflation rates and low levels of … growth, changes in inflation, and labor market slackness are the same for men and women and whether measures of 'non … do as well as men's in explaining real compensation growth and changes in inflation after 1983. We also find some …
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"In his famous 1987 monograph, Robert Lucas argued that further stabilizing the business cycles that persisted in the post-War era was pointless, because these cycles had a negligible effect on societal well- being. In particular, Lucas demonstrated that society should be willing to pay only a...
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