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Titlebook: Alternative Theories of Output, Unemployment, and Inflation in Germany: 1960–1985; Christine Sauer Book 1989 Springer-Verlag Berlin Heidel

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期刊全称Alternative Theories of Output, Unemployment, and Inflation in Germany: 1960–1985
影响因子2023Christine Sauer
视频video
学科分类Lecture Notes in Economics and Mathematical Systems
图书封面Titlebook: Alternative Theories of Output, Unemployment, and Inflation in Germany: 1960–1985;  Christine Sauer Book 1989 Springer-Verlag Berlin Heidel
影响因子by Jerome L. Stein Disenchantment with Keynesian econollics developed during the post-1968 period when the rate of growth of output declined, the rate of unemployment rose, and the rate of inflation increased in the U.S. and in other countries. This paradox, called stagflation, was inconsistent with the tenet of Keynesian economics that cyclical movemants in prices and output relative to their respective trends are positively correlated. A search occurred for a more satisfactory theory of macroeconomics which could explain the paradox of stagflation and the observed economic phenomena. The New Classical Economics (NCE) developed as the total rejection of Keynesian economics. The Keynesians claimed that their demand management policies contributed to the obsolescence of the business cycle and successfully eliminated the gap between full employment (potential) output and actusl output. The NCE argued just the opposite: the unemplo~nt rate or growth rate of real output is insensitive to systematic demand management policies [Lucas; Sargent and Wallace].
Pindex Book 1989
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0075-8442 , the rate of unemployment rose, and the rate of inflation increased in the U.S. and in other countries. This paradox, called stagflation, was inconsistent with the tenet of Keynesian economics that cyclical movemants in prices and output relative to their respective trends are positively correlated
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Accumulation Landform Tourism Landscapence of two hyperinflations and the vast destruction of World War II — explain the overriding concern with economic stability and security which is reflected in many of the formal and informal institutional arrangements in Germany today.
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https://doi.org/10.1007/978-981-13-2538-0is review highlights the findings of previous empirical studies which deal with the German macroeconomy either exclusively or in the context of cross-country comparisons. When of interest, studies of other open economies are also mentioned.
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Fixed Versus Flexible Exchange Rates in the Open Economy: Theory and Reality,behavior of macrovariables and their relationships, are attributed to the transition from fixed to more flexible exchange rates in the early 1970’s. Yet, few authors subject their open economy modifications to rigorous statistical tests.
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