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full-employment
Empirical results presented below quantify the short-run trade-off between ending inflation and supporting full-employment output growth.
      
We use this approach to estimate the two components of potential GDP: the full-employment labour input and trend labour productivity.
      
If this rate comes to exceed that of Northern labour growth, a full-employment barrier is reached, pushing up Northern wages.
      
The Fed's inflationary full-employment policy between 1950 and 1970 reduced real interest rates relative to unskilled wages.
      
Cardiff University's graduates enjoy full-employment, and according to our conceptual framework, Cardiff's higher education system is classified as "nonactive" positional competition and "social" knowledge production.
      
The labor market in a macroeconometric model of Austria is used to determine the natural unemployment rate, full-employment (F.E.) output, and the F.E.
      
Yet liberal Keynesians themselves admit that the interest rate required for a full-employment equilibrium maybe so low as to be unattainable.
      
Yet even in the full-employment view, consumption might increase as a result of the tax cut if capital markets are imperfect.
      
A drop of 0.3 is small in comparison to the width of the full-employment range.
      
Based on the recent Okun's law relationship, this implies a roughly 2 percent drop in output relative to its full-employment level.
      
Consequently, the main prediction in the General Theory was that fiscal policy by itself is capable of generating a full-employment level of income.
      
Deflation by a common price index would identify the decline in full-employment real value added.
      
Faced with a real wage fixed above the full-employment real wage, aggregate demand policy had no power to reduce the rate of unemployment.
      
Full-employment is determined by both, productivity growth and the change of the sectoral per capita consumption coefficients.
      
In the 1970s the high level of union power appears to have caused u min to exceed the full-employment unemployment rate.
      
In this framework, the exchange rate is a tool to reach an objective of full-employment of an underemployed labour force.
      
Now investment does not have to be equal to full-employment saving, except in full equilibrium.
      
Now start from a full-employment situation, with wage at some level, say w.
      
Note that this is true even if one were to maintain a full-employment assumption implying Wp = 1.
      
They were also freed from the full-employment obligation of the Socialist centralised plan system.
      
 

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