Aggregate Demand, Economic Growth, and Unemployment
This paper argues that in a growing economy unemployment can be the cause of goods markets failures, even if these are purely transitory. As the economy grows, new firms wish to enter products are accepted on the market, which we model as a purely transitory demand shock. It may take some time, however, until their products are accepted on the market, which we model as a purely transitory demand shock.
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|Date of creation:||2000|
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