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Labor Force Participation and Monetary Policy in the Wake of the Great Recession

Erceg, Christopher J. - 2014

In this paper, we provide compelling evidence that cyclical factors account for the bulk of thepost-2007 decline in the U.S. labor force participation rate. We then proceed to formulate astylized New Keynesian model in which labor force participation is essentially acyclical during“normal...

Persistent link: https://www.econbiz.de/10013061162

Assessing labour market slack for monetary policy

Ens, Erik; Savoie-Chabot, Laurence; See, Kurt; Wee, Shu Lin - 2021

The large and uneven impact of COVID-19 has emphasized the complexity and diversity of the labour market. This complexity implies that traditional headline measures may be inadequate at providing a comprehensive picture of labour market health. We address this concern in two ways. First, we...

Persistent link: https://www.econbiz.de/10012695080

The recovery from the Great Recession: a long, evolving expansion

Shambaugh, Jay C.; Strain, Michael R. - 2021

Prior to 2020, the Great Recession was the most important macroeconomic shock to the United States economy in generations. Millions lost jobs and homes. At its peak, one in ten workers who wanted a job could not find one. On an annual basis, the economy contracted by more than it had since the...

Persistent link: https://www.econbiz.de/10012405441

Assessing labour market slack for monetary policy

Ens, Erik; Savoie-Chabot, Laurence; See, Kurt; Wee, Shu Lin - 2021

Persistent link: https://www.econbiz.de/10012888668

Phillips Curves, Monetary Policy, and a Labor Market Transmission Mechanism

Schreft, Stacey - 2013

This paper develops a general equilibrium monetary model with performance incentives to study the inflation-unemployment …

Persistent link: https://www.econbiz.de/10012711249

Labor Supply Shocks, Labor Force Entry, and Monetary Policy

Kurozumi, Takushi; Van Zandweghe, Willem - 2022

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...

Persistent link: https://www.econbiz.de/10014083431

Réformes structurelles sur le marché du travail : quels enseignements peut-on tirer des études existantes ?

Fougère, D. - Banque de France - 2006

. Thus, such reforms are not sufficient by themselves to reduce the unemployment rate and to stimulate production and …

Persistent link: https://www.econbiz.de/10004998818

Structural or cyclic? : labor markets in recessions : how should policy respond to higher unemployment?

Lazear, Edward P. - 2014

Persistent unemployment after recessions and the policies required to bring it down are the subject of an ongoing … unemployment, requiring the implementation of structural policy reforms. The alternative view is that the slow recovery of the … economy is due to cyclic reasons coming from lack of demand which prevents unemployment from falling quickly. Knowing whether …

Persistent link: https://www.econbiz.de/10011413609

Trend growth, unemployment and optimal monetary policy

Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2015

and matching unemployment. We show that trend growth in itself does not generate a trade-off for the monetary authority …

Persistent link: https://www.econbiz.de/10011300631

Monetary policy shocks in open economies and the inflation unemployment trade-off : the case of the Euro Area

Ribba, Antonio - In: Journal of risk and financial management : JRFM 15 (2022) 4, pp. 1-12

, inflation and unemployment, we detect a wrong sign in the response of inflation to contractionary monetary policy shocks … significant unemployment inflation trade-off emerges. These conclusions are confirmed by using industrial production instead of … the unemployment rate in the VAR model. …

Persistent link: https://www.econbiz.de/10013168711

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