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The level at which these forces are most evident is at that of broad aggregates and long time spans.
Julien investigates these issues through a 'micro-analytic' approach: rather than study organizations as broad aggregates, he starts by observing social interactions among individuals and tries to understand how organizational structure enables these interactions to aggregate into organizational outcomes.
From my 1998 paper on the subject (pdf): The point is important and bears repeating: under liquidity trap conditions, the normal expectation is that an increase in high-powered money will have little effect on broad aggregates … Nor was it just theory.
It clarifies that this notion is largely based on official urban/rural statistics that capture only broad aggregates, and that this average child does not actually exist.
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This result is of particular interest to policymakers, given the lack of deep forward markets in many individual commodities, and broad aggregate commodity indices in particular.
In addition to estimating the effects of policies in terms of broad aggregate macroeconomic variables, DZ is designed to track the effects of tax policy changes across current and future generations and across income groups within each generation.
Their platforms are broad, aggregating opposing positions on dozens of issues, nearly assuring that neither party fully aligns with any citizen's views.
The large, broad aggregate peak centered at 1.4 Å−1 has contributions from the weakly ordered/aggregated PCBM and possibly (PCB 2C2, as well as from the amorphous regions of PCDTBT.
"Broader aggregates, such as employment and real personal income, have not fallen significantly or at all".
The main point, however, is that we are a very long way from classic monetarism, of the form that says that the central bank can control broad monetary aggregates like M2 at will, and in turn that these broad monetary aggregates determine the course of the economy.
The data show broad national aggregates that do not try to compare similar occupations.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com