Karanassou, Marika (contributor); Sala, Hector (contributor) - 2008
that focus primarily on inflation dynamics and (ii) labour macro-
economic models that seek to explain the evolution of … Snower (1996) called such labour market systems the "chain reaction theory (CRT)
models". See also Karanassou and Snower …
). Therefore, frictional growth implies that under quite plausible conditions
(e.g. different labour demand and supply dynamics, and …