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and matching unemployment. We show that trend growth in itself does not generate a trade-off for the monetary authority …
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This paper presents a neo-Kaleckian-Goodwin model of growth and distribution. The key innovation is the introduction of managerial pay. Kaleckian monopoly power determines the functional distribution of income and Goodwin labor bargaining power determines wage bill division. The model helps...
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cover pandemics have a change in trend and persistence in growth, and in level and persistence in unemployment. We find that … in recent times seem to have a permanent effect on growth. Moreover, our results show that the unemployment rate …
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