Hysteresis in the Current Recession: Evidence and Consequences
Thesis advisor: Robert Murphy === Hysteresis, in an economic context, is the idea that periods when the unemployment rate is greater than the natural rate have the effect of raising the underlying natural rate of unemployment (or, non-accelerating inflation rate of unemployment, NAIRU) and moving it...
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| Format: | Others |
| Language: | English |
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Boston College
2012
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| Online Access: | http://hdl.handle.net/2345/2643 |