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The Quantity Theory The Keynesian Revolution and
Theories of Cost Inflation
7 other sections not shown
adaptive expectations aggregate analysis assumed assumption average balance of payments change of wages chapter cost cost-push demand for labour demand for money determined economic effect empirical equilibrium excess demand expectations hypothesis expected rate expenditure factors fixed exchange rates Friedman full employment Hines incomes policy inflationary gap inflationary pressure inflationary process Keynes Keynesian labour market level of excess level of real Lipsey LM curve monetarist monetary expansion monetary policy money illusion money wages national income neo-Keynesian neoclassical nominal nominal contracts output period Phillips curve Phillips relation prediction price inflation price level profit proxy quantity theory rate of change rate of inflation rate of interest rate of monetary rate of unemployment rate of wage reaction function real balances real interest rate real wage rate result rise submarkets supply of money theoretical trade union trade-off relation unemployment rate union/non-union vacancies variables wage changes wage equation wage increases wage inflation