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The Phillips curve has been at the same time an econometric object, a trade-off curve and an analytical equation representing the aggregate supply in a macro model. The paper considers these aspects as they emerge from the so called new “neoclassical synthesis'' models used for monetary...
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The Phillips curve has been at the same time an econometric object, a trade-off curve and an analytical equation representing the aggregate supply in a macro model. The paper considers these aspects as they emerge from the so called new ®neoclassical synthesis'' models used for monetary policy....
Persistent link: https://www.econbiz.de/10008629856