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inflation and output. In an AD-AS model with imperfect foresight income inequality intensifies the volatility of output and … inflation rate by increasing the likelihood of oscillations as well as their magnitude. Volatility is, however, moderated when …
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COVID-19 constitutes a health crisis which has rapidly turned into a social and economic crisis. This paper briefl y explores some of the issues raised by the combination of a massive supply-side shock with a massive demand-side shock, and the interaction of these with the exponential dynamics...
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