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Not on AS-AD



Thanks to Jim for reviving Abba Lerner's distinction between "high" and "low"
full employment.  For the former, I would accept the 45-degree line
intersection with the Beveridge Curve to be a reasonable approximation.  Which
brings up the question: does anyone regularly calculate where we are on the
B-Curve in the U.S.?  I know that Japan takes it pretty seriously.  This would
be a nice stat to remain current on...

Peter Dorman


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