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allow markets to operate more freely, i.e. to bring the real world closer to the idealized theoretical model. This paper …
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Presents the empirical data of business cycles and the theories that economists have developed to explain and prevent them, and considers case studies of recessions and depressions in the United States and internationally.
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approximate linear dynamic stochastic general equilibrium model of the world economy, augmented with structural shocks exhibiting … national economies in the world …
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