On Jul 14, 2010, at 11:41 AM, Jim Devine wrote: > MF...saw a zero inflation rate as an attainable goal at full > employment (the "natural" rate of unemployment)...
Isn't this just a tautology--the "natural" rate of unemployment being defined as that rate at which there is no endogenous tendency toward inflation or deflation? Shane Mage "All things are an equal exchange for fire and fire for all things, as goods are for gold and gold for goods." Herakleitos of Ephesos, fr, 90 _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
