The current jobless rate of 3.4% is below the natural rate, implying labor market tightness and according to the Phillips curve construct. For the Phillips curve to "work," changes in unemployment and ...
Vol. 71, No. 3, Special Issue in honor of Nicholas C. Yannelis - Part I (April 2021), pp. 1085-1119 (35 pages) This paper considers the Core of a competitive market economy with private commodities as ...
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