Firms don’t just try to pay as little as possible …– Janet Yellen
Firms don’t just try to pay as little as possible to get the needed bodies on board; when there is unemployment, they ask themselves how
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Firms don’t just try to pay as little as possible to get the needed bodies on board; when there is unemployment, they ask themselves how
My bottom line is that monetary policy should react to rising prices for houses or other assets only insofar as they affect the central bank’s
Efforts to promote financial stability through adjustments in interest rates would increase the volatility of inflation and employment. As a result, I believe a macro-prudential
After adjusting for inflation, the average income of the top 5% of households grew by 38% from 1989 to 2013. By comparison, the average real
Will capitalist economies operate at full employment in the absence of routine intervention? Certainly not. Are deviations from full employment a social problem? Obviously.
To me, a wise and humane policy is occasionally to let inflation rise even when inflation is running above target.
At the federal level, the fiscal stimulus of 2008 and 2009 supported economic output, but the effects of that stimulus faded; by 2011, federal fiscal
Individuals out of work for an extended period can become less employable as they lose the specific skills acquired in their previous jobs and also
We need to keep in mind the well-established fact that the full effects of monetary policy are felt only after long lags. This means that
In government institutions and in teaching, you need to inspire confidence. To achieve credibility, you have to very clearly explain what you are doing and
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