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a) Unemployment is strongly countercyclical. Is this stylized
- a) Unemployment is strongly countercyclical. Is this stylized fact of the business cycle fact consistent with the Business Cycle theory?
- b) According to Kaldor stylized facts of growth, in the long run K/L and Y/L grow at a sustained rate andK/Y is stable. Show that these facts are consistent with the Solow model with human capital.
This question was answered on: Feb 21, 2020
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