The figure below illustrates the output gap and the real interest-rate gap in the United Kingdom as a function of time.
3. The figure below illustrates the output gap and the real interest-rate gap in the United
Kingdom as a function of time.
Is the output gap generally
• leading and procyclical,
• lagging and procyclical,
• leading and countercyclical, or
• lagging and countercyclical,
with respect to the real interest-rate gap gap after 1988? Brieflfly explain your choice.
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The post The figure below illustrates the output gap and the real interest-rate gap in the United Kingdom as a function of time. appeared first on Superb Professors.
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