In previous chapters we have traced the links between economic theory and the policy pursued by post-war British governments. Here we are concerned with the contrasting views of forecasters working from broadly monetarist (new classical) and neo-Keynesian perspectives about where Britain is headed, and about job prospects. This provides a useful context from which to develop our own views and a helpful point of comparison.
KeywordsMonetary Policy Exogenous Variable Real Wage Trade Balance Variant Simulation
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