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May’s surprising pace of job growth along with a rise in wages added to conviction that the Federal Reserve will stay on hold through this summer and possibly beyond. The Bureau of Labor Statistics reported Friday that nonfarm payrolls increased by 272,000 for the month, considerably higher than the Wall Street consensus of 190,000 and well above April’s ...
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It is an honour to be speaking to you today as part of your series of workshops in memory of Maurice Allais. His contributions, in particular his work on general equilibrium theory and market efficiency, helped lay the theoretical foundations for the growth model that Western economies pursued after the Second World War. As Maurice Allais once said, “what ...
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