Glenn Rudebusch of the Federal Reserve Bank of San Francisco has argued that the increased share of

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Glenn Rudebusch of the Federal Reserve Bank of San Francisco has argued that “the increased share of services instead of tangible goods in the economy’s output  .  .  . would tend to diminish the importance of inventory fluctuations and moderate the business cycle.” Briefly explain his reasoning.

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Economics

ISBN: 9780135957554

8th Edition

Authors: Glenn Hubbard, Anthony Patrick O Brien

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