Macro-Economic Relativity : Government Spending , Private Investment and Unemployment in the USA

@inproceedings{Young1999MacroEconomicR,
  title={Macro-Economic Relativity : Government Spending , Private Investment and Unemployment in the USA},
  author={P. C. Young and Diego J. Pedregal},
  year={1999}
}
A new approach to time series modelling is used to explore how government spending and private capital investment may have influenced the unemployment rate in the USA between 1948 and 1988. The resulting model suggests strongly that the investigation of dynamic relationships between purely relative measures of the major macro-economic variables can help in understanding changes in economic behaviour. It also allows for an initial investigation of the post-1988 period and an analysis of possible… CONTINUE READING

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