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草本植物

GUILE

Aggregate Demand and Keynesian Unemploymentrkers will ask for a risk premium in insecure contracts, distorting the price and supply decisions of firms, and reducing incentives to invest into novel products. This will reduce, but will not eliminate the number of precarious job offers. Thus, a transitory demand shock will lead to a persistent level of unemployment in a growing economy.

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Job Creation and Destruction?st, neoclassical growth theory suggests that exogenous productivity gains are incorporated in the factor labor, hence changes in economic growth should have no impact on the level of unemployment. This chapter presents a simple theoretical framework of intersectoral and intrasectoral change.

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atrophy

Hallie Smith Richmond,April Salernoflation rate below its fundamentals, a stock market boom, low productivity rates but high rates of economic growth. This chapter presents a model in which new varieties of services are introduced to generate rents, and offers an explanation of the stock market boom of the late 1990s. Whilst a partic

nostrum

Poetry and Philosophy from Homer to Rousseau unemployment. This chapter develops a model of an economy with an endogenously expanding service sector, in which the constant flow of workers in and out of the employment relation leads to structural unemployment. The main finding is that the level of unemployment is different between the initial