O.k. I wrote this years ago. Maybe 2003, maybe 2005: And while NKs accept the basic logic of the rational expectations augmented Philips curve (that is, that the NAIRU is semi-fixed in the long run) monetary and fiscal policy can … Continue reading 
O.k. I wrote this years ago. Maybe 2003, maybe 2005: And while NKs accept the basic logic of the rational expectations augmented Philips curve (that is, that the NAIRU is semi-fixed in the long run) monetary and fiscal policy can … Continue reading →