What is the empirical assessment by Lucas of the importance of short-run fluctuations in unemployment and output

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What is the empirical assessment by Lucas of the importance of short-run fluctuations in unemployment and output due to errors in expectations? Discuss other possible reasons for such fluctuations.

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Monetary Economics

ISBN: 9780415772099

2nd Edition

Authors: Jagdish Handa

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Question Posted: Nov 12, 2024 03:00 AM

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What is the empirical assessment by Lucas of the importance of short-run fluctuations in unemployment and output due to errors in expectations? Discuss other possible reasons for such fluctuations.
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What is the empirical assessment by Lucas of the importance of short-run fluctuations in unemployment and output

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Monetary Economics

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