Question
Some in the FED admit they no longer have an operative theory of inflation. Mainstream economists believe the monetary policy is what helped bring about
Some in the FED admit they no longer have an operative theory of inflation. Mainstream economists believe the monetary policy is what helped bring about the Great Moderation. Discuss the alternative explanation for the low inflation environment that was created during this period, and why it might also explain the most recent change in the relationship underlying NAIRU
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Essentials of Economics
Authors: N. Gregory Mankiw
8th edition
1337091995, 978-1337515351, 1337515353, 978-1337091992
