Explore the causes and implications of below full employment equilibrium, where short-run GDP falls below potential output, leading to resource underutilization.

I have observed and appreciated Olivier Blanchard’s intellectual journey over the last decade. It began in August 2008, with what must be regarded as one of the worst-timed papers in the history of ...

Economics is split between analysis of how the overall economy works and how single markets function Physicists look at the big world of planets, stars, galaxies, and gravity. But they also study the ...