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Nordhaus (2008) has developed a testing strategy for what he calls "Baumol's diseases", by which name he designates a number of by-products of structural change that are unwanted from an economic policy perspective. He finds that the U.S. economy is strongly affected by the "diseases". This...
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to 2008. The paper reiterates the need for monetary policy discipline to safeguard the country's economic stability, and …
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