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  <url>
    <loc>https://www.rogerfarmer.com/latest</loc>
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    <lastmod>2019-09-26</lastmod>
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      <image:title>Front Page Gallery</image:title>
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      <image:title>Front Page Gallery</image:title>
    </image:image>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1464052302089-NG6NHLNG70JANDNBS9SU/LondonCanal.jpg</image:loc>
      <image:title>Front Page Gallery - Regent's Park Canal</image:title>
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      <image:title>Front Page Gallery - The Lake at Warwick University</image:title>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1464052307786-7AZF6VW3HDHLC1U21EI8/SantaMonica.jpg</image:loc>
      <image:title>Front Page Gallery - Sunset over the Pacific</image:title>
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  </url>
  <url>
    <loc>https://www.rogerfarmer.com/new-gallery</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2017-04-30</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1464108920576-B8CXDIX2DOZNHINJ6JQI/prosperity.jpg</image:loc>
      <image:title>Book Gallery A - Prosperity for All</image:title>
      <image:caption>My new book Prosperity for All: How to Prevent Financial Crises, from Oxford University Press. In the aftermath of the 2008 financial crisis, economists around the world have advanced theories to explain the persistence of high unemployment and low growth rates. According to Roger E. A. Farmer, these theories can be divided into two leading schools of thought: the ideas of pre-Keynesian scholars who blame the recession on bad economic policy, and the suggestions of "New Keynesian" scholars who propose standard modifications to select assumptions of Keynes' General Theory.... More detailed Description and Table of Contents available from Oxford University Press site.  Preorder HERE from OUP; the book will ship September 1st 2016.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1464108920576-B8CXDIX2DOZNHINJ6JQI/prosperity.jpg</image:loc>
      <image:title>Book Gallery A - Prosperity for All</image:title>
      <image:caption>My new book Prosperity for All: How to Prevent Financial Crises, from Oxford University Press. In the aftermath of the 2008 financial crisis, economists around the world have advanced theories to explain the persistence of high unemployment and low growth rates. According to Roger E. A. Farmer, these theories can be divided into two leading schools of thought: the ideas of pre-Keynesian scholars who blame the recession on bad economic policy, and the suggestions of "New Keynesian" scholars who propose standard modifications to select assumptions of Keynes' General Theory.... More detailed Description and Table of Contents available from Oxford University Press site.  Preorder HERE from OUP; the book will ship September 1st 2016.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1464110917697-M51KP9CG4148Z8BZVF8M/Expectations+Cover.jpg</image:loc>
      <image:title>Book Gallery A - Expectations Employment and Prices</image:title>
      <image:caption>Expectations Employment and Prices is a monograph aimed at an academic audience. It brings Keynesian economics into the 21st century by providing a new paradigm which explains how high unemployment could potentially persist forever without a little help from the government. The book fills in logical gaps that were missing from the General Theory by reconciling some of its key ideas with modern economic theory. Central bankers throughout the world are talking now about developing a second instrument of monetary policy in addition to controlling the interest rate. This book directly addresses this issue and offers new creative monetary policy proposals and suggestions for the design of new financial institutions forthe 21st century.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1464108899267-8SIAC0W0VEJAK6R0JKA3/Expectations+Cover.jpg</image:loc>
      <image:title>Book Gallery A - Expectations Employment and Prices</image:title>
      <image:caption>Expectations Employment and Prices is a monograph aimed at an academic audience. It brings Keynesian economics into the 21st century by providing a new paradigm which explains how high unemployment could potentially persist forever without a little help from the government. The book fills in logical gaps that were missing from the General Theory by reconciling some of its key ideas with modern economic theory. Central bankers throughout the world are talking now about developing a second instrument of monetary policy in addition to controlling the interest rate. This book directly addresses this issue and offers new creative monetary policy proposals and suggestions for the design of new financial institutions forthe 21st century.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1464108915252-O58QQGHMMIWXW8SBG29Q/HTEW.jpg</image:loc>
      <image:title>Book Gallery A - How the Economy Works</image:title>
      <image:caption>How the Economy Works: Confidence Crashes and Self-Fulfilling Prophecies translates the scientific arguments of Expectations, Employment and Prices into English, and although the book was written for the general reader, there will also be much to interest those with a specialist knowledge of economics. It is more important than ever that the public understands the dominant schools of economic thought, how they developed in response to previous crises, and how contemporary economists’ beliefs are influencing the policies that have such a huge impact on peoples’ everyday lives.  This book combines the best ideas from Keynesian and classical economics and offers a new tool that central banks can use to prevent future bubbles and crashes in the stock market.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1464109710151-Y77LPAU6IVD6T25CN336/SFP.gif</image:loc>
      <image:title>Book Gallery A - The Macroeconomics of Self-Fulfilling Prophecies</image:title>
      <image:caption>The Macroeconomics of Self-Fulfilling Prophecies, MIT Press 1999 (2nd edition). The second edition of my graduate text offers an introduction to modern stochastic dynamic general equilibrium theory without the use of formal proof. It has become a classic since the first edition in 1993 and is still used widely in graduate economics programs throughout the world. Look out for a third edition coming soon.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1464109770323-3SUGXUSP9VKLYTYYYCZS/Macroeconomics.gif</image:loc>
      <image:title>Book Gallery A - Macroeconomics</image:title>
      <image:caption>Macroeconomics: Southwestern 2002. This is the second edition of my undergraduate textbook. It has a strong emphasis on data and a comprehensive treatment of classical approaches and modern general equilibrium theory.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1464109909646-IUPSYOOQD7IZ360G3H0V/SmallandLarge.gif</image:loc>
      <image:title>Book Gallery A - Macroeconomics in the Small and the Large</image:title>
      <image:caption>Macroeconomics in the Small and the Large: Edited by Roger E. A. Farmer; Edward Elgar 2009. A series of papers in honor of Axel Leijonhufvud. It contains works by Axel Leijonhufvud,  David Laidler, Roger E.A. Farmer, Edmund S. Phelps, Daniel Heymann, Timothy J. Kehoe and David K. Levine,  Masanao Aoki, Lars P. Hansen and Thomas J. Sargent,  B. Zorina Khan and Kenneth L. Sokoloff and Peter Howitt.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1464109951198-XHOQ9ELLAN7N9W9YXL26/MonPolTimes.jpg</image:loc>
      <image:title>Book Gallery A - Monetary Policy in Our Times</image:title>
      <image:caption>Monetary Policy in Our Times: MIT Press 1985. A now classic volume that I edited jointly with Albert Ando, Hidekazu Eguchi and Yoshio Suzuki. It contains works by Milton Friedman, James Tobin, Robert Gordon, K. Hamada and F. Hayashi, Michael Darby,  Akihito Amano, Thomas Sargent, and Albert Ando.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1493575729342-LSXV6V37YZ03AMO5XKWA/Vietnamese+Edition.jpeg</image:loc>
      <image:title>Book Gallery A</image:title>
      <image:caption>Cách Kinh Tê Vân Hành  This is the first Vietnamese edition of How the Economy Works.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1464108906042-F23B8N9FEAS436TON4PU/Hogyan.jpg</image:loc>
      <image:title>Book Gallery A - Hogan Mukodik A Gazdasag</image:title>
      <image:caption>This is the first Hungarian Edition of How the Economy Works</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1464109821989-JL4RZC1RZ5DNOX04PKQX/ChineseText.jpg</image:loc>
      <image:title>Book Gallery A - Macroeconomics</image:title>
      <image:caption>Macroeconomics: Southwestern 2002. The first Chinese edition of my undergraduate textbook</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1464109868258-EHXFKB81284HVLF00W2D/ItalianMacroeconomics.jpg</image:loc>
      <image:title>Book Gallery A - Macroeconomics</image:title>
      <image:caption>Macroeconomia McGraw Hill 2000. The first Italian edition of my undergraduate textbook. Translated by Bruno Chiarini</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-11-26</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1464212137850-KHE7FF2EFPVZGHGB19K0/SantaMonica.jpg</image:loc>
      <image:title>Roger Farmer's Economic Window</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2025/11/17/modern-monetary-theory-thoughts-on-soft-currency-economics-by-warren-mosler</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2025/8/30/uk-evidence-for-the-laffer-curve</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-08-30</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/cc54be27-41fd-45e8-8db2-9b363226b31d/Screenshot+2025-08-30+at+4.08.22%E2%80%AFPM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - UK Evidence for the Laffer Curve - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2025/6/28/tariffs-and-the-trade-deficit</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-06-28</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/78b342f4-6a1b-4d7d-8fe2-e29df56586d4/IMG_0732.jpeg</image:loc>
      <image:title>Roger Farmer's Economic Window - Tariffs and the Trade Deficit - Make it stand out</image:title>
      <image:caption>The US Trade Deficit as a Percentage of GDP</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2023/3/18/how-to-fix-the-banks</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2022/5/7/axel-leijonhufvud-september-6th-1933-may-2nd-2022</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2022-05-07</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/76829131-c607-4792-a771-4b5f36d33485/Screen+Shot+2022-05-07+at+11.35.03+AM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Axel Leijonhufvud Remembered - Make it stand out</image:title>
      <image:caption>UCLA Faculty at the 2006 conference in honor of Axel Leijonhufvud</image:caption>
    </image:image>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/f41f7a36-ed78-4780-8d7d-9a630c938109/Screen+Shot+2022-05-07+at+11.40.25+AM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Axel Leijonhufvud Remembered - Make it stand out</image:title>
      <image:caption>Yours Truly with my friend and teacher David Laidler, Axel Leijonhufvud and Axel’s wife Earlene Craver</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2021/9/16/an-interview-with-roger-farmer-by-phil-armstrong-part-2-of-4-on-conventional-theories-of-money-42932-5fh7k</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2021-09-23</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1631799332982-A2SISF13ESQ238WA065D/Screen+Shot+2021-09-12+at+2.12.47+PM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - An Interview with Roger Farmer by Phil Armstrong: Part 4 of 4: On Modern Monetary Theory - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2021/9/16/an-interview-with-roger-farmer-by-phil-armstrong-part-2-of-4-on-conventional-theories-of-money-42932</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2021-09-22</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1631799332982-A2SISF13ESQ238WA065D/Screen+Shot+2021-09-12+at+2.12.47+PM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - An Interview with Roger Farmer by Phil Armstrong: Part 3 of 4: On Heterodox Economics - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2021/9/16/an-interview-with-roger-farmer-by-phil-armstrong-part-2-of-4-on-conventional-theories-of-money</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2021-09-16</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1631799332982-A2SISF13ESQ238WA065D/Screen+Shot+2021-09-12+at+2.12.47+PM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - An Interview with Roger Farmer by Phil Armstrong: Part 2 of 4:  On Conventional Theories of Money - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2021/9/12/an-interview-with-roger-farmer-by-phil-armstrong-part-1-of-4-on-economic-methodology</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2021-09-13</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1631489347668-WY6INVF2GLIPHP6EJSKB/Screen+Shot+2021-09-12+at+2.12.47+PM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - An Interview with Roger Farmer by Phil Armstrong: Part 1 of 4: On Economic Methodology - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2021/1/29/rebuilding-macroeconomic-theory</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2021-02-05</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1611938733796-SZGK28XNHV8HBVI4DI8X/iu.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Rebuilding Macroeconomic Theory</image:title>
      <image:caption>Image is from Chapter 22 of Dynamic Macroeconomics by George Alogoskoufis.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2020/12/17/self-fulfilling-prophecies-quasi-non-ergodicity-and-wealth-inequality</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1608243141906-L3EXD1C4VTSW5XSZSC12/Lorenz+Curve.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Self-Fulfilling Prophecies, Quasi-Non-Ergodicity and Wealth Inequality</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2020/11/9/a-journey-through-the-evolution-of-my-ideas</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2020-11-09</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1604965339712-USZY6BAAO1VVCSIXLMTI/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - A Journey Through the Evolution of My Ideas</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/12/17/a-uk-sovereign-wealth-fund</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2020/5/14/monetary-finance-in-the-age-of-corona-virus</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2020-05-14</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1589414942142-ALCCAD5Q2R8SOVK4WB9W/Screen+Shot+2020-05-13+at+5.08.16+PM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Monetary Finance in the Age of Corona Virus: MMT and the Green New Deal</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2020/5/6/the-peters-paradox</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1588802718816-8VPIZP41820OY8ZR9C8K/Screen+Shot+2020-05-06+at+2.36.50+PM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - The Peters Paradox</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2020/5/1/jack-hirshleifer-a-memory</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2020-05-02</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1588288870768-H91E17HIRRDNTHFMZYON/Jack.jpg</image:loc>
      <image:title>Roger Farmer's Economic Window - Jack Hirshleifer: A Memory</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1588441831043-KJ7BRHH7AYHL272EBS2A/Screen+Shot+2020-05-02+at+10.49.51+AM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Jack Hirshleifer: A Memory</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2020/3/5/contagion</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2019/11/23/1fqf7odnyan3gfgef5vjwlgoxu1q8p</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1574507427682-BT3IZNXSQ9AQ2K5X1FI9/Screenshot%2B2019-11-23%2B11.04.07.jpg</image:loc>
      <image:title>Roger Farmer's Economic Window - Taxing Billionaires</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2019/10/10/how-economics-can-help-to-improve-peoples-lives</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2019-10-10</lastmod>
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      <image:title>Roger Farmer's Economic Window - How Economics Can Help To Improve People’s Lives</image:title>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2019/9/12/a-requiem-for-the-fiscal-theory-of-the-price-level</loc>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2019/8/2/why-rick-rieder-is-right</loc>
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    <lastmod>2025-11-26</lastmod>
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    <lastmod>2019-06-15</lastmod>
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      <image:title>Roger Farmer's Economic Window - The Future of Macroeconomics</image:title>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2019/5/29/why-indeterminacy-matters</loc>
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    <lastmod>2025-11-26</lastmod>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2019/4/18/is-there-a-structural-phillips-curve</loc>
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    <lastmod>2019-04-18</lastmod>
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      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1555606157979-5GUN6T8IBQXXVRDPWZ0H/Screen+Shot+2019-04-18+at+9.45.31+AM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1555606441490-75KJHK5N2WFLIEXZEI84/Screen+Shot+2019-04-18+at+9.53.22+AM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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    <image:image>
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      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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    <image:image>
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      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1555607506765-P2L5P6KOH3BV8RHYX2MY/Screen+Shot+2019-04-18+at+10.10.07+AM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1555607536255-JUK8KMJ5CKJ0BGKZXP1U/Screen+Shot+2019-04-18+at+10.10.14+AM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Replacing the Phillips Curve: I showed you my macro model. Now show me your macro model.</image:title>
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  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2019/3/3/there-are-many-unemployment-rates-for-any-r</loc>
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    <lastmod>2025-11-26</lastmod>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2019/1/14/why-deficits-are-sustainable-and-inflation-has-a-life-of-its-own</loc>
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    <lastmod>2025-11-26</lastmod>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2019/1/12/uhvlpii5ymeojh2cw6a8hd88znkl3k</loc>
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    <lastmod>2019-01-12</lastmod>
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      <image:title>Roger Farmer's Economic Window - Social Progress is not an Illusion</image:title>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2018/12/26/dont-trust-the-markets</loc>
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    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2018/7/2/conference-at-the-bank-of-england</loc>
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    <lastmod>2025-11-26</lastmod>
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      <image:title>Roger Farmer's Economic Window - Conference at the Bank of England</image:title>
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      <image:title>Roger Farmer's Economic Window - Conference at the Bank of England</image:title>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2018/6/5/lend-me-your-ears-friedman-and-the-role-of-financial-policy</loc>
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    <lastmod>2025-11-26</lastmod>
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      <image:title>Roger Farmer's Economic Window - Lend Me Your Ears: Friedman and The Role of Financial Policy</image:title>
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  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2018/6/3/taming-the-lion</loc>
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    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2018/5/30/why-the-financial-markets-are-inefficient</loc>
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    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2018/4/29/animal-spirits-is-lm-nac-and-keynesian-economics-without-the-phillips-curve</loc>
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    <lastmod>2018-04-29</lastmod>
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      <image:title>Roger Farmer's Economic Window - Animal Spirits, IS-LM-NAC and Keynesian Economics without the Phillips Curve</image:title>
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      <image:title>Roger Farmer's Economic Window - Animal Spirits, IS-LM-NAC and Keynesian Economics without the Phillips Curve</image:title>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2018/4/19/moving-the-overton-window-let-the-debate-continue</loc>
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    <lastmod>2018-04-23</lastmod>
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      <image:title>Roger Farmer's Economic Window - Moving the Overton Window: Let the Debate Continue</image:title>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2018/4/14/standing-on-the-shoulders-of-giants</loc>
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    <lastmod>2018-04-14</lastmod>
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      <image:title>Roger Farmer's Economic Window - Standing on the Shoulders of Giants</image:title>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2018/3/27/large-scale-econometric-models-do-they-have-a-future</loc>
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    <lastmod>2025-11-26</lastmod>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2018/3/18/what-does-it-mean-to-have-rational-expectations-wonk-warning</loc>
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    <lastmod>2018-03-18</lastmod>
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      <image:title>Roger Farmer's Economic Window - What Does it Mean to Have Rational Expectations?</image:title>
      <image:caption>Figure 1: The Tent Map</image:caption>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2018/3/12/the-household-fallacy</loc>
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    <lastmod>2025-11-26</lastmod>
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      <image:title>Roger Farmer's Economic Window - The Household Fallacy</image:title>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2018/3/12/ergodicity</loc>
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    <lastmod>2025-11-26</lastmod>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2018/2/7/confidence-and-crashes</loc>
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    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2018/1/31/why-we-experts-should-be-a-little-more-humble</loc>
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    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2018/1/28/freedom-of-the-press-and-internet-filtering</loc>
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    <priority>0.5</priority>
    <lastmod>2018-01-28</lastmod>
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      <image:title>Roger Farmer's Economic Window - Freedom of the Press and Internet Filters</image:title>
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  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/12/9/how-much-debt-do-we-need-my-answer-70-of-gdp</loc>
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    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/12/2/is-unemployment-too-low</loc>
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    <priority>0.5</priority>
    <lastmod>2017-12-02</lastmod>
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      <image:title>Roger Farmer's Economic Window - Is Unemployment Too Low?</image:title>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1512234636369-RFPNTBNLAGROU3CM8VY0/Screen+Shot+2017-12-02+at+5.07.20+PM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Is Unemployment Too Low?</image:title>
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    <image:image>
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      <image:title>Roger Farmer's Economic Window - Is Unemployment Too Low?</image:title>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/11/15/making-sense-of-chaos-with-the-windy-boat</loc>
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    <lastmod>2017-11-15</lastmod>
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      <image:title>Roger Farmer's Economic Window - Making Sense of Chaos with the Windy-Boat</image:title>
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    <image:image>
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      <image:title>Roger Farmer's Economic Window - Making Sense of Chaos with the Windy-Boat</image:title>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/11/12/tax-reform-a-proposal-for-the-chancellor</loc>
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    <lastmod>2017-11-12</lastmod>
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      <image:title>Roger Farmer's Economic Window - Tax Reform: A Proposal for the Chancellor</image:title>
      <image:caption>Chart 1: Source, Office for Budget Responsibility and Authors Calculations (c) Roger Farmer 2017</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/11/5/macroeconomics-religion-or-science</loc>
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    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/10/31/a-short-guide-to-why-we-will-raise-interest-rates</loc>
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    <lastmod>2025-11-26</lastmod>
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  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/10/28/the-curse-of-the-five</loc>
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    <priority>0.5</priority>
    <lastmod>2017-10-29</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1509214972567-XKG99Z90JQ7PDGN05YJ5/Screen+Shot+2017-10-28+at+5.16.33+PM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - How to Fix the Curse of the Five</image:title>
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  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/10/22/reflections-on-my-interview-with-cloud-yip-part-2</loc>
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    <priority>0.5</priority>
    <lastmod>2017-10-22</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1508703872651-56V54D4B29MGAKJQW4ZD/Roger.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Reflections on My Interview with Cloud Yip: Part 2</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1508704252084-R9RAFW2UDW5SY7PDEU3S/book.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Reflections on My Interview with Cloud Yip: Part 2</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/10/15/my-interview-with-cloud-yip-part-1</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2017-10-15</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1508059307390-YGPNE3HUI0JCIXDLPUCZ/Roger.png</image:loc>
      <image:title>Roger Farmer's Economic Window - My Interview with Cloud Yip: Part 1:</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1508059511157-MGKOPJJN243QTVR9BV6D/book.png</image:loc>
      <image:title>Roger Farmer's Economic Window - My Interview with Cloud Yip: Part 1:</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/10/9/and-the-nobel-prize-goes-to-</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2017-10-09</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1507554189649-SRPM900AQL5UPRCQF294/thaler.jpg</image:loc>
      <image:title>Roger Farmer's Economic Window - And the 2017 Economics Nobel Prize goes to ...</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/10/1/keynesian-economics-without-the-phillips-curve</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1506893292798-DS4AXVOPIYRWNXUBMGKE/table2.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Keynesian Economics Without the Phillips Curve</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/9/24/on-refereeing-do-we-have-confidence-in-our-economic-institutions</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1506255722438-9YZ7ROAPW470IUAR4GF4/From+https%3A%2F%2Ftwitter.com%2Fredpenblackpen%3Fref_src%3Dtwsrc%255Egoogle%257Ctwcamp%255Eserp%257Ctwgr%255Eauthor</image:loc>
      <image:title>Roger Farmer's Economic Window - On Refereeing: Do we have Confidence in our Economic Institutions?</image:title>
      <image:caption>From Redpen/Blackpen twitter feed</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/9/21/wheres-the-beef</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1506018055259-ALM1W30A1OLAGN2JF2VP/Screen+Shot+2017-09-21+at+7.20.31+PM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Where's the Inflation? Where's the Beef?</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/9/17/indeterminacy-the-belief-function-and-reinventing-is-lm</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1505663376233-790OEMSU2HJPJBY7B1G3/islmnac.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Indeterminacy, the Belief Function and Reinventing IS-LM</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/9/2/beliefs-networks-history-and-the-housing-premium-puzzle</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1504379909686-6TNSL0XYMCMPBOCXROKI/Screen+Shot+2017-09-02+at+1.42.03+PM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Beliefs, Networks, History and the Housing Premium Puzzle</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1504380053759-LTM7A9OW2ASTWX86SSVF/Screen+Shot+2017-09-02+at+1.50.24+PM.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Beliefs, Networks, History and the Housing Premium Puzzle</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/8/25/short-sharp-shocks-2954l</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1503762190847-1SYQMRW8AAPVP1OYJMY3/ESM+picture.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Short Sharp Shocks</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1503762305815-8KLXBC4Z1XHJXUC7PKLQ/evansgraph.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Short Sharp Shocks</image:title>
      <image:caption>Figure 2</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/8/19/agent-based-models-and-loss-aversion-in-the-uk-housing-market</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/8/4/2yw5mgtbhfdsplypz5qimqdolmycc4</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2017-08-14</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1502495686830-GJZXXD9ZV0IVHXEB8GN1/01+James+Bullard.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Do Low Interest Rates Punish Savers?</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1502495665306-UZ9LL8ZS4SUBQU4VH569/11+Kevin+Lansing.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Do Low Interest Rates Punish Savers?</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1501888339185-FXDE3XLQW5YNOH80LEJM/Screenshot+2017-08-04+15.33.38.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Do Low Interest Rates Punish Savers?</image:title>
      <image:caption>Figure 1: Source: Bauer and Rudebusch</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/8/10/what-is-keynesian-search-theory</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/8/1/4vmwgcf0zsv2jn9twzn56bmpbl11kz</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2017-08-07</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1501872835206-KNFC3W9F2X9CQBUWWSF4/GroupPhoto.jpg</image:loc>
      <image:title>Roger Farmer's Economic Window - The Marriage of Psychology with Multiple Equilibria in Economics</image:title>
      <image:caption>Participants at the Conference</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/7/30/who-is-a-post-keynesian</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1501432623709-A4LV0FT3UK3BVKQLP65M/Society+for+Economic+Measurement</image:loc>
      <image:title>Roger Farmer's Economic Window - Post-Keynesians and New-Keynesians: A Lesson From Evolutionary Biology</image:title>
      <image:caption>Society for Economic Measurement</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/7/8/conscience-of-a-liberal-bertrand-russell-edition</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2017-07-09</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1499580871917-0U13SMBWVN9DXLT1WZIL/image-asset.jpeg</image:loc>
      <image:title>Roger Farmer's Economic Window - The Liberal Conscience (Bertrand Russell Edition)</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/5/1/david-and-goliath-the-sunspot-agenda-meets-the-mit-machine</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/4/30/cch-nn-kinh-t-vn-hnh</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2017-04-30</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1493576215556-EN1SXB4V194RNO4LY03U/image-asset.jpeg</image:loc>
      <image:title>Roger Farmer's Economic Window - Cách Nên Kinh Tê Vân Hành</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/2/19/updated-paper-on-is-lm</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2017-02-19</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1487535198326-J87IADUHIQWEPBHJ1X3M/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Let's All Be Keynesians Now</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1487537094395-H2Q0PQY2S849WMS6W3WJ/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Let's All Be Keynesians Now</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/1/30/post-keynesian-dynamic-stochastic-general-equilibrium-theory</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/1/28/keynesian-economics-without-the-consumption-function</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2017-01-28</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1485628621606-79URHZXD7ZB66M9J2T49/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Keynesian Economics Without the Consumption Function</image:title>
      <image:caption>Figure 1: Roger E. A. Farmer. (c) Oxford University Press.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2017/1/22/gyk0r7y4ewco40s3yd9qfay5czewot</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2017-01-22</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1485121777299-IBG3OINEL0ZLPX5A90Q3/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Reinventing the Keynesian Cross</image:title>
      <image:caption>Figure 1: The Keynesian Cross (my interpretation using employment and output in wage units)</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/12/17/keynes-betrayed</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2016-12-18</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1482033785807-WZ4BX3Y7ZERI3NWNLDT7/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Keynes Betrayed</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/12/17/why-markets-fail</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2016-12-18</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1482031620616-IY84JLW7YEP2VQEUJUZI/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Why Markets Fail</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/12/7/which-free-market</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2016-12-07</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1481146345367-EBKIF94RPPZPMAD2DG0Y/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Which Free Market?</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/12/7/classical-and-new-keynesian-schools-of-thought</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2016-12-07</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1481111738154-ONU7P1NG9R3FEB771OO3/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Classical and New Keynesian Schools of Thought</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/12/6/the-role-of-the-state</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2016-12-06</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1481026581600-1G8UH0BUIGNIT8FCRSM2/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - The Role of the State</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/12/4/the-demise-of-the-natural-rate-hypothesis</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2016-12-04</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1480876097973-NDYIBJGG8CPJ4AXU5T32/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - The Demise of the Natural Rate Hypothesis</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/11/21/three-facts-about-debt-and-deficits</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2016-11-21</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1479762498612-B7V4RFXRBMJC56VMIMW0/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Three Facts about Debt and Deficits</image:title>
      <image:caption>Chart 1: UK Public Sector Debt</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1479762717317-JEXG8ZLZ6MAEKJCNFY69/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Three Facts about Debt and Deficits</image:title>
      <image:caption>Chart 2: Debt, Deficits and Interest Rates Net of NGDP Growth</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1479762965174-BYJ46FDQSBHU5GNG2NQI/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Three Facts about Debt and Deficits</image:title>
      <image:caption>Chart 3: Public Investment as a Percentage of GDP</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/11/13/the-nrh-is-wrong</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2016-11-13</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1479071196027-7BP0C70WRF4WNDU3FRE7/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - The NRH is Wrong</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/11/11/xf676oqz44n3e2g6ct4ljuf8mo2p46</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1478902358242-H71IQQA180L8ULTSQLU2/Properity.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Prosperity for All</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1478902469276-XFBGW426FGD03MGBFWCB/image-asset.jpeg</image:loc>
      <image:title>Roger Farmer's Economic Window - Prosperity for All</image:title>
      <image:caption>Keynes caricature in Stalin-Wells Talk by David Low, 1934. Public domain via Wikimedia Commons</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/10/4/nho932exasra0c2a2amkvdmovcy9rz</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/9/27/the-liquidity-trap-and-how-to-escape-it-time-for-a-new-approach</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/9/23/my-slides-for-the-snb</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2016-09-23</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1474644720980-JTT2EFA0HVICXU8G5E9R/image-asset.jpeg</image:loc>
      <image:title>Roger Farmer's Economic Window - My Slides for the SNB Research Conference</image:title>
      <image:caption>Karl Brunner: 1916 -- 1989</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/9/18/unemployment-and-hours-are-very-different-animals</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2016-09-18</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1474218569767-JKGVZF0LVHS0O3L2XU5Z/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Unemployment and Hours are Very Different Creatures</image:title>
      <image:caption>Chart 1: Labor Force Participation and Unemployment.   (c) Source: Prosperity for All, 2016, Oxford University Press page 54.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1474218609054-IGKAKCGP0AXFKIIV3PXO/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Unemployment and Hours are Very Different Creatures</image:title>
      <image:caption>Chart 2: Hours and Unemployment.  (c) Source: Prosperity for All, 2016, Oxford University Press page 53.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/9/11/why-central-bankers-are-like-sheepdogs</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/9/5/message-to-the-fed-were-not-in-kansas-anymore</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/9/2/reinventing-is-lm-the-is-lm-nac-model-and-how-to-use-it</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2018-04-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1472856793166-W141ISFLJQP50PRS4JIY/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Reinventing IS-LM: The IS-LM-NAC Model and How to Use It</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/8/29/two-reason-why-death-matters</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/8/28/beliefs-and-the-monetary-transmission-mechanism</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/8/27/why-the-fed-should-raise-interest-rates-at-its-next-meeting</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1472319770227-OQHCQSJCQUE6LMXAM26N/Neo.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Why the Fed should raise interest rates at its next meeting</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/8/17/quote-for-the-day</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2016-08-17</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1471461504937-TRK7OUDXTFC219QTPG72/image-asset.jpeg</image:loc>
      <image:title>Roger Farmer's Economic Window - Thought for the Day: George Orwell and E.B. White</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/8/14/has-labor-productivity-dropped</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2016-08-15</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1471217972642-1FN72JSNV436MXC0MERN/image-asset.jpeg</image:loc>
      <image:title>Roger Farmer's Economic Window - Has Labor Productivity Growth Fallen Permanently?</image:title>
      <image:caption>Figure 1: Post-War Labor Productivity</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1471218187516-Y0VH0GH8YKTJ8U1QAI9G/image-asset.jpeg</image:loc>
      <image:title>Roger Farmer's Economic Window - Has Labor Productivity Growth Fallen Permanently?</image:title>
      <image:caption>Figure 2: Data for Productivity Broken into Two Subsamples</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1471218269739-NL4Z7ULBVFVM474OV3V2/image-asset.jpeg</image:loc>
      <image:title>Roger Farmer's Economic Window - Has Labor Productivity Growth Fallen Permanently?</image:title>
      <image:caption>Figure 3: Smoothed Histograms for Both Subsamples</image:caption>
    </image:image>
  </url>
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    <lastmod>2025-11-26</lastmod>
  </url>
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    <lastmod>2016-06-27</lastmod>
  </url>
  <url>
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    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
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    <changefreq>monthly</changefreq>
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    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/6/25/britain-in-europe-the-way-forward</loc>
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    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/6/19/the-confidence-fairy-is-not-an-illusion</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2016-06-22</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1466354800712-LJRS9TSVE1LYAWGWQT5A/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Confidence is not a fairy and it is not an illusion</image:title>
      <image:caption>Figure 1: The IS-LM-NAC Model</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/6/18/forecasting-that-the-unemployment-rate-will-be-constant-is-a-bad-idea</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2016-06-18</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1466265918989-8GI2C0VTCWWVPIWRT718/The+US+Unemployment+Rate</image:loc>
      <image:title>Roger Farmer's Economic Window - Forecasting that the Unemployment Rate will stay Constant is a Bad Idea</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/6/9/is-the-us-economy-healthy</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-26</lastmod>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/6/7/no-its-not-the-scale</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2016-06-07</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1465340367243-5X4FVNI6JELVSQM6V6T2/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - Its the wiggles not the trend</image:title>
      <image:caption>Chart 1: Number of unemployed people and number of people in the labor force. Both series normalized to December 2007=100.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.rogerfarmer.com/rogerfarmerblog/2016/6/3/its-the-unemployment-rate-stupid</loc>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1465070135562-QBS8V354188J0RC56UB0/Caption</image:loc>
      <image:title>Roger Farmer's Economic Window - It's the Unemployment Rate Stupid</image:title>
      <image:caption>Chart 1: The Employment to Population Ratio</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/573b5f2bf85082a897b58171/1465070407899-SOEO9D3TN1EFCTEZKJD5/image-asset.png</image:loc>
      <image:title>Roger Farmer's Economic Window - It's the Unemployment Rate Stupid</image:title>
      <image:caption>Chart 2: Unemployment and Labor Force Participation</image:caption>
    </image:image>
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