Should monetary policy offset the effects of labor supply shocks on inflation and the output gap? Canonical New Keynesian models answer yes. Motivated by weak labor force participation during the pandemic, we reexamine the question by introducing labor force entry and exit in an otherwise...

Though central banks make consequential macroeconomic decisions, little is known about diversity at the helm of these institutions. This article investigates what factors drive the gender balance in central bank boards. I document the lack diversity of central bank leadership and argue that it...