Reflection Around the Reality of Long-run concept: application to Money Neutrality
According to my own thought I can assume that Economists often use the concept of long-term, without knowing that the said concept is the moment in which the major crises trigger. When the optimistic replaces the economic pessimism, the short-terms are born and the economic agents reproduce their stupid behavior which consists on the purchase of future transactions by the fictional creation of the money. The time, at the time of crises, increases speed by trying to settle transactions that occurred in previous periods in differentiated time horizons Present / Future.
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- Belser, Patrick & Rama, Martin, 2001. "State ownership and labor redundancy - estimates based on enterprise-level data from Vietnam," Policy Research Working Paper Series 2599, The World Bank.
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