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Before the great recession of 2008-2009, the "flexicurity" model (with flexibility for firms to adjust their labor force along with income security for workers through the social safety net) attracted attention for its ability to deliver low unemployment. But how did it fare during the...
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Central bankers are raising interest rates on the assumption that wage-push inflation may lead to stagflation. This is …
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The low rate of inflation observed in the U.S. over the entire past decade is hard to reconcile with traditional … the job explains this missing inflation. We derive this novel concept of slack from a model in which a drop in the on …
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