Hence, the hypothesis offers a new perspective and complements the previous demand side explanations.
This leads to a supply-side explanation of an inverted yield curve forecasting economic recession.Arun KhannaSIR - You intimate that an inverted yield curve threatens the economy through the ability of banks to "transform savings into lending".
Try factoring in our awful budget deficit, which has gone mostly toward employing poor overseas workers, lifting millions out of poverty.Roger ArnoldButtonwood on banks and the yield curveSIR - "Bankers scratch their heads and worry" (Economist.com, June 7th) presents the traditional demand-side explanation of an inverted yield curve in the United States forecasting economic recession.
This paper is the first to introduce a supply-side explanation for the phenomenon.
Without a clear supply- or demand-side explanation for the boom, Walter Schubert, a finance professor at LaSalle University, suggests that JFK's impact was largely exhortatory: "My sense of Kennedy is that he inspired a lot of people to try things".
The constraint or demand-side explanation focuses on the choices and behaviors of employers rather than employees.
Basically, the choice or supply-side explanation suggests that gender differences in careers are due to the choices of individual women.
Adam Posen likes to dismiss supply-side explanations for Japan's economic underperformance by saying the Japanese did not one day wake up and find their left arms had fallen off.
This fact, being a common feature of both sides' explanations of the material events, is as consistent with the hypothesis of guilt as with the hypothesis of innocence.
From the other side, one explanation can be the use of different types of arrays (of different sample quality) and the different parameters considered for the data analysis.
For example, Gould and Lewontin's (1979) argument for considering constraint-based "Bauplan" explanations before or along side selective explanations is an example of methodological anti-adaptationism.
