High-Pressure Economy

Okun(1973)이 서론에서 Henry Wallich가 거시경제 economist들을 고압경제와 저압경제를 지지하는 두 부류로 분류할 수 있다는 주장을 소개.

 

Henry Wallich once suggested that macroeconomists could be classified into advocates of "high pressure" and "low pressure" operation of the economy. (p. 207)

 

Okun(1973)이 주장하는 바는 아래와 같음

 

Thus the movement to full employment draws on a reserve army of the underemployed as well as of the unemployed. In the main empirical study of this paper, I shall report new evidence concerning the upgrading of workers into more productive jobs in a higher-pressure economy.

 

<참고자료>

Okun, A. M. (1973) "Upward Mobility in a High-Pressure Economy. Brookings Papers on
Economic Activity" 19733(1), p. 207–261

 

Wallich, H. C. (1956) "Conservative Economic Policy," Yale Review, Vol. 46 (Autumn 1956), p. 68.