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  • In that sense, it is a big improvement over, say, supply and demand. (Actually it???s a kind of superset of supply and demand.) On a mundane level, it???s elementary to show that S=D has no particular claim to equilibrium status in a model that incorporates flows of workers and jobs and some sort of matching process. (The 45 degree line in a Beveridge Curve is not presumed to be an equilibrium loc
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