LIBROS DEL AUTOR: liviu voinea

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  • Defensive Expectations
    Liviu Voinea
    This book explains why inflation remains subdued after recessions, based on three revolutionary concepts: defensive expectations, compensatory savings, and cumulative wage gap. When income falls, consumption falls, and savings rise, as people rebuild their past wealth. Households will not spend more until they fully recover what they lost. The revised Phillips Curve explains th...
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