In the face of the dramatic economic events of recent months and the inability of academics
and policymakers to prevent them, the New Consensus Macroeconomics (NCM) model has …

This study was conducted to find out the determinants of unemployment in Bahrain. The
objectives of the study were to find out the way in which the Gross Domestic Product (GDP) …

Abstract The Survey of Consumer Expectations (SCE) infers respondents' inflation
expectations from density forecasts. Using numeracy data and tests for coherence among …

RESUMO A política fiscal do Plano Real seguiu a lógica do Novo Consenso em
Macroeconomia. Desde o Plano criaram-se as bases para uma mudança do regime fiscal …

Since the early 2000s, debt sustainability is assessed by the World Bank and the
International Monetary Fund (IMF) through a policy template called Debt Sustainability …

There can hardly be an economist of the twentieth century who is more intensely revered
than Milton Friedman. It is easy to see why. He was author of A Theory of the Consumption …

In his Nobel lecture, Friedman built on his earlier argument for a “natural rate of
unemployment” by painting a picture of an economics profession which, as a result of foolish …

Economic theory is prone to hysteresis. Once an idea is adopted, it is difficult to change. In
the 1970s, the economics profession abandoned the Keynesian Phillips curve and adopted …

I consider the representation of theory concerning the relationship between inflation and
unemployment, as presented in a sample of economics textbooks from the 1940s to the …

It is widely accepted that the importance of Friedman's Presidential Address to the American
Economic Association lies in its criticism of policy based on the Phillips curve. However, it is …