How do (i) real business cycle theory, (ii) FriedmanLucas supply analysis, explain fluctuations in unemployment over the

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How do (i) real business cycle theory, (ii) Friedman–Lucas supply analysis, explain fluctuations in unemployment over the business cycle? What is the impact on unemployment of changes in aggregate demand in these models? How would you test the validity of the implications of these theories?

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Monetary Economics

ISBN: 9780415772099

2nd Edition

Authors: Jagdish Handa

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