Labor Force Participation And Monetary Policy In The Wake Of The Great Depression
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Labor Force Participation And Monetary Policy In The Wake Of The Great Recession
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Author : Christopher J. Erceg
language : en
Publisher: International Monetary Fund
Release Date : 2013-12-16
Labor Force Participation And Monetary Policy In The Wake Of The Great Recession written by Christopher J. Erceg and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-16 with Business & Economics categories.
In this paper, we provide compelling evidence that cyclical factors account for the bulk of the post-2007 decline in the U.S. labor force participation rate. We then proceed to formulate a stylized New Keynesian model in which labor force participation is essentially acyclical during “normal times” (that is, in response to small or transitory shocks) but drops markedly in the wake of a large and persistent aggregate demand shock. Finally, we show that these considerations can have potentially crucial implications for the design of monetary policy, especially under circumstances in which adjustments to the short-term interest rate are constrained by the zero lower bound.
Labor Force Participation And Monetary Policy In The Wake Of The Great Depression
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Author : Christopher J. Erceg
language : en
Publisher:
Release Date : 2013
Labor Force Participation And Monetary Policy In The Wake Of The Great Depression written by Christopher J. Erceg and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business cycles categories.
Labor Force Participation And Monetary Policy In The Wake Of The Great Recession
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Author : Christopher J. Erceg
language : en
Publisher:
Release Date : 2013
Labor Force Participation And Monetary Policy In The Wake Of The Great Recession written by Christopher J. Erceg and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Monetary policy categories.
In this paper, we provide compelling evidence that cyclical factors account for the bulk of the post-2007 decline in the U.S. labor force participation rate. We then proceed to formulate a stylized New Keynesian model in which labor force participation is essentially acyclical during "normal times" (that is, in response to small or transitory shocks) but drops markedly in the wake of a large and persistent aggregate demand shock. Finally, we show that these considerations can have potentially crucial implications for the design of monetary policy, especially under circumstances in which adjustments to the short-term interest rate are constrained by the zero lower bound.
Labor Force Participation And Monetary Policy In The Wake Of The Great Recession
DOWNLOAD
Author : Christopher J. Erceg
language : en
Publisher: International Monetary Fund
Release Date : 2013-12-16
Labor Force Participation And Monetary Policy In The Wake Of The Great Recession written by Christopher J. Erceg and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-16 with Business & Economics categories.
In this paper, we provide compelling evidence that cyclical factors account for the bulk of the post-2007 decline in the U.S. labor force participation rate. We then proceed to formulate a stylized New Keynesian model in which labor force participation is essentially acyclical during “normal times” (that is, in response to small or transitory shocks) but drops markedly in the wake of a large and persistent aggregate demand shock. Finally, we show that these considerations can have potentially crucial implications for the design of monetary policy, especially under circumstances in which adjustments to the short-term interest rate are constrained by the zero lower bound.
International Macroeconomics In The Wake Of The Global Financial Crisis
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Author : Laurent Ferrara
language : en
Publisher: Springer
Release Date : 2018-06-13
International Macroeconomics In The Wake Of The Global Financial Crisis written by Laurent Ferrara and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-13 with Business & Economics categories.
This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Futures Thinking And Organizational Policy
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Author : Deborah A. Schreiber
language : en
Publisher: Springer
Release Date : 2018-12-19
Futures Thinking And Organizational Policy written by Deborah A. Schreiber and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-19 with Business & Economics categories.
This book proposes that organizational policies are what ensure the institutionalization and sustainability of futures thinking in organizations. It presents several case studies from corporations and other institutions that describe effective use of foresight methods and internal policies to respond to rapid change. The case studies address changing trends in technology, globalization and/or workforce diversity, and the impact on the economic and political well-being of the organization. The editors also develop an organizational capability maturity model for futures thinking as well as providing questions for discussion that promote critical review of each case chapter. This book will inform scholars and organizational leaders how best to utilize foresight methodologies and organizational policies to sustain successful management strategies within futures thinking organizations. Chapter 9 is available open access under a Creative Commons Attribution 4.0 International License via link.springer.com.
The Budget And Economic Outlook
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Author :
language : en
Publisher:
Release Date : 2008
The Budget And Economic Outlook written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Budget categories.
The Federal Reserve System Purposes And Functions
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Author : Board of Governors of the Federal Reserve System
language : en
Publisher:
Release Date : 2002
The Federal Reserve System Purposes And Functions written by Board of Governors of the Federal Reserve System and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Banks and Banking categories.
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
State Government Tax Collections In
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Author :
language : en
Publisher:
Release Date :
State Government Tax Collections In written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with Revenue categories.
What Happens During Recessions Crunches And Busts
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Author : Mr.Ayhan Kose
language : en
Publisher: International Monetary Fund
Release Date : 2008-12-01
What Happens During Recessions Crunches And Busts written by Mr.Ayhan Kose and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-12-01 with Business & Economics categories.
We provide a comprehensive empirical characterization of the linkages between key macroeconomic and financial variables around business and financial cycles for 21 OECD countries over the period 1960–2007. In particular, we analyze the implications of 122 recessions, 112 (28) credit contraction (crunch) episodes, 114 (28) episodes of house price declines (busts), 234 (58) episodes of equity price declines (busts) and their various overlaps in these countries over the sample period. Our results indicate that interactions between macroeconomic and financial variables can play major roles in determining the severity and duration of recessions. Specifically, we find evidence that recessions associated with credit crunches and house price busts tend to be deeper and longer than other recessions. JEL Classification Numbers: E32; E44; E51; F42