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IN THIS CHAPTER YOU WILL LEARN:
About alternative perspectives on the causes of macroeconomic instability, including the views of mainstream economists, monetarists, real-business cycle advocates, and proponents of coordination failures.
What the equation of exchange is and how it relates to "monetarism."
Why new classical economists believe the economy will "self-correct" from aggregate demand and aggregate supply shocks.
The variations of the debate over "rules" versus "discretion" in conducting stabilization policy.
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