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Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past …
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The Taylor (1993) rule for determining interest rates is generalized to account for three additional variables: The money supply, money velocity, and the unemployment rate. Thus, five parameters, i.e. weights assigned to the deviation in the inflation rate, the deviation in real GDP (Gross...
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in East Germany after unification, the existence of unemployment traps, their influence on labor market persistence and …
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