Ep. 245 Cutting Larry Summers Some Slack on His Labor Market Remarks
Bob Murphy Show
00:00
What's Real Business Cycle Theory?
Economist robert lucas says monetary policy does seem to be able to affect the business cycle. If inflation ends at being lower than what they thought, the unemployment rates higher. But once they adjust to the new base line, ye ow, things go back. The actual employment rat tends towards the natural rate. i think that's a good spot to rap for your attention. And i will try to pump out some more episodes in near future.
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