This 1992 Quarterly Journal of Economics paper by Mankiw, Romer, and Weil tests whether Robert Solow's (1956) neoclassical growth model, augmented to include accumulation of human as well as physical …
PublishedClassicThe Economic JournalOnline 23 Dec 2001Published Apr 2001
The consensus view that contractionary monetary shocks raise unemployment but only slowly and gradually lower inflation is, this lecture argues, flatly inconsistent with the forward-looking "new …