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This paper estimates a series of shocks to hit the US economy during the Great Depression, using a New Keynesian model with unemployment and bargaining frictions. Shocks to long-run inflation expectations appear to account for much of the cyclical behavior of employment, while an increase in...
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business cycles in the US, men, and women in the labor market react differently. In this paper, we theoretically frame the …
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In this chapter, we describe growth and cycles in economics as a struggle between capitalists and workers. We first …. Goodwin's model explains cycles in those terms and will be tested in Chap. 19. The Kolmogorov generalization of the prey …
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