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Arbeitslosigkeit liefern und dass die auf dieser Analyse aufbauenden wirtschaftspolitischen Empfehlungen und Maßnahmen daher …
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yielded a dual effect: lowering both output growth and inflation rates, while concurrently exacerbating unemployment rates …
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We analyze the implications of changes in the trend growth rate for optimal monetary policy in the presence of search and matching unemployment. We show that trend growth in itself does not generate a trade-off for the monetary authority, but that it interacts importantly with the inefficiencies...
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