G2TT
来源类型Discussion paper
规范类型论文
来源IDDP16535
DP16535 The Elusive State of Full Employment
Antonio Fatas
发表日期2021-09-11
出版年2021
语种英语
摘要During the expansion phase of the business cycle unemployment declines towards levels that are usually associated to the natural rate of unemployment. Unfortunately, those low levels of unemployment are short lived. In the last 60 years, the US has not witnessed a long period of stable and low unemployment. We argue that this result is consistent with an asymmetric view of the business cycles (as in Friedman’s plucking model) where many expansions are unfinished business, they end too early. The speed of labor market recovery is too slow and before the economy reaches full employment a recession starts, either because of imbalances or bad luck. Our analysis has implications for how we think about labor market slack and potential output. From a policy perspective it calls for a focus on faster recoveries while avoiding the type of imbalances that can be the seed of the next crisis.
主题Monetary Economics and Fluctuations
关键词Potential output Business cycles Natural rate of unemployment Recoveries
URLhttps://cepr.org/publications/dp16535
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/545486
推荐引用方式
GB/T 7714
Antonio Fatas. DP16535 The Elusive State of Full Employment. 2021.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Antonio Fatas]的文章
百度学术
百度学术中相似的文章
[Antonio Fatas]的文章
必应学术
必应学术中相似的文章
[Antonio Fatas]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。