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By:Arthur M. Okun,James Tobin
Published on 1983 by Brookings Inst Press

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Essays devoted to a discussion and elaboration of Arthur M. Okun's theories and policy prescriptions as outlined in his posthumously published Prices and Quantities. Topics discussed include: implicit contracts in labor markets; stickiness of prices and wages in three countries; equilibria in markets that are imperfect because information about prices and quantities is scarce; questions whether credit as well as asset aggregates should be considered in the formulation of monetary policy; long-term response of interest rates to inflation; whether macroeconomic theories can help explain and devise solutions for economic problems such as chronic inflation and high unemployment; and contributions to macroeconomic policy. ISBN 0-8157-8486-4 : $26.95.

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