Antonio Fatás on Hysteresis and the Business Cycle
Macro Musings with David Beckworth
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The Importance of Human Capital Formation in the Economy
In the past decade, for example, we had a slow recovery coming out of the Great Recession. What these theories would say is that there's a whole lot of human capital formation that didn't take place. If you were just more engaged, if you're running the economy a little bit hotter than we did, there's actually gains to be made that weren't recognized.
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