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Abstract
Young, P.C. and Pedregal, D.J. (1999) Macro-economic relativity: Government spending, private investment and unemployment in the USA 1948-1998, In press, Structural Change and Economic Dynamics.
| The paper explores first how movements in Government spending and private capital investment can be related to changes in the unemployment rate of the USA between 1948 and 1988. The resulting model shows that there are very stable dynamic relationships between purely relative measures of these major macro-economic variables over this time; relationships that appear to continue into the post-1988 period and may help in understanding the differences in the investment-unemployment behaviour of the US economy before and after 1988. |
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Updating responsibility Arun Chotai. This page is copyright of Lancaster University.
12/10/01 - PGM.