G2TT
来源类型Discussion paper
规范类型论文
来源IDDP16876
DP16876 Inclusive Monetary Policy: How Tight Labor Markets Facilitate Broad-Based Employment Growth
Michael Weber
发表日期2022-01-10
出版年2022
语种英语
摘要This paper analyzes the heterogeneous effects of monetary policy on workers with differing levels of labor force attachment. Exploiting variation in labor market tightness across metropolitan areas, we show that the employment of populations with lower labor force attachment---Blacks, high school dropouts, and women---is more responsive to expansionary monetary policy in tighter labor markets. The effect builds up over time and is long lasting. We develop a New Keynesian model with heterogeneous workers that rationalizes these results. The model shows that expansionary monetary shocks lead to larger increases in the employment of less attached workers when the central bank follows an average inflation targeting rule and when the Phillips curve is flatter. These findings suggest that, by tightening labor markets, the Federal Reserve's recent move from a strict to an average inflation targeting framework especially benefits workers with lower labor force attachment.
主题Monetary Economics and Fluctuations
URLhttps://cepr.org/publications/dp16876
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/545803
推荐引用方式
GB/T 7714
Michael Weber. DP16876 Inclusive Monetary Policy: How Tight Labor Markets Facilitate Broad-Based Employment Growth. 2022.
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
[Michael Weber]的文章
百度学术
百度学术中相似的文章
[Michael Weber]的文章
必应学术
必应学术中相似的文章
[Michael Weber]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。