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The Evolution of Events Economic Thought and Policies
Options and Issues
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adjustment aggregate demand average Bank of Canada bargaining behaviour Canadian Canadian dollar catch-up chapter Christofides controls program costs credible decline demand restraint developments direct controls discussed disinflation economic economists effects empirical employees equilibrium estimated excess demand expected inflation experience factors federal firms full employment impact important indexation inertia inflation and unemployment inflation rate inflationary labour market long-run macroeconomic ment monetary and fiscal NAIRU natural unemployment rate natural-rate hypothesis negotiations nominal wage non-accommodative norm output and employment percent permanent incomes policy Phillips Curve potential output prediction price controls price increases price inflation price setting price stability rate of inflation rational expectations real wages recession reducing inflation relative result Riddell and Smith role short-run social stagflation studies supply shocks tion TIP on wage unanticipated union United Kingdom variable wage and price wage changes wage contracts wage determination wage increases wage inflation wage settlements workers