A MODEL OF INCOME, UNEMPLOYMENT AND INFLATION FOR THE U.S.A

B. Rao

No 157, Working Papers from University of Sydney, School of Economics

Abstract: This paper develops a simple three equation microeconomic model to explain the dynamics of output, unemployment and inflation for the U.S.A. The model is estimated, with the annual data, for 1946-1989. Insights gained through some recent developments are used to specify and estimate the model.

Date: 1991-02
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