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- W1504594852 abstract "This paper analyses the chain of transmission mechanisms of economic policy actions to financial markets, output and employment and, finally, unemployment - in an attempt to identify remaining puzzles and neglected issues in macroeconomics. The paper emphasizes the consequences of fiscal and monetary policy actions on real variables, including real interest rates and real exchange rates. An attempt is made to explain why product demand shocks often tend to have faster effects on output and employment than on prices. The paper also discusses why demand-induced increases in output and employment are not systematically connected with a reduction in the product wage rate. The paper ends with a discussion of various supply-side considerations in macroeconomics." @default.
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- W1504594852 date "1989-06-01" @default.
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- W1504594852 title "Remaining Puzzles and Neglected Issues in Macroeconomics" @default.
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- W1504594852 doi "https://doi.org/10.2307/3440126" @default.
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