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This very brief note improves the paper by Lisi (2012) by removing from the model an unrealistic feature.
Persistent link: https://www.econbiz.de/10011279227
Studies investigating the sign of the relationship between growth and unemployment have generated opposite results. In this paper we provide a simple theoretical model where the net effect of growth on unemployment is ambiguous both in steady state and out-of steady-state.
Persistent link: https://www.econbiz.de/10010709699