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Omitted Variables Bias and The Holy Spirit
All the good in this article belongs to the Lord, a thanks to the blessed virgin mother as well, and the bad is mine. This paper came as inspiration from the Holy Spirit that I put together in one weekend, adding drug activity corrected for the omitted variables bias in the Phillips curve. Something long sought after by Macroeconomists. The reason this worked so well is because the drug activity correlates to general criminal activity in the economy, a huge section of the economy previously unmeasured. The paper is posted below, I will get the files up as soon as I get them organized.
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