Commentary: The Role of Demand Management Policies in Reducing Unemployment

Abstract

Bean is skeptical about the ability of policymakers to stabilize unemployment. He argues that while, in principle, policymakers could stabilize output and unemployment around their equilibrium values, in practice, all the familiar obstacles to perfect stabilization--especially lags and uncertainty about the structure of the economy and the way individuals… (More)

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@inproceedings{Fischer2005CommentaryTR, title={Commentary: The Role of Demand Management Policies in Reducing Unemployment}, author={Stanley Fischer and Charles R. Bean}, year={2005} }