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Explaining Business Cycle Fluctuations with the Classical Model

Explaining Business Cycle Fluctuations with the Classical Model. Outline: The business cycle: again. Cyclical fluctuations as an equilibrium phenomenon Shifts of labor supply Shifts of labor demand Cyclical fluctuations as a disequilibrium phenomenon Labor union truculence

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Equilibrium phenomenon - PowerPoint PPT Presentation

Explaining Business Cycle Fluctuations with the Classical Model