How Labour Market Rigidities increase our understanding of Business Cycle Fluctuations

João Madeira discusses his research in this area. Economics undergraduate students worldwide are taught business cycle fluctuations using the IS-LM model, the AD-AS model, and the Phillips curve. The key message from these models is that monetary and fiscal policy can be effective in stimulating aggregate economic output in the short to medium run (before …

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Economic History – The Big Picture

Thilo Huning discusses the ways in which a deeper understanding of global history can make us better economists.  Every day we are confronted with new questions that require an in-depth understanding of international trade–debates on tariffs, 'renegotiating' NAFTA, talks of 'no deal' with the EU, and attacks on the WTO. But where did these institutions come …

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