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

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Description:In this paper, we provide compelling evidence that cyclical factors account for the bulk of the post-2007 decline in the U.S. labor force participation rate. We then proceed to formulate a stylized New Keynesian model in which labor force participation is essentially acyclical during "normal times" (that is, in response to small or transitory shocks) but drops markedly in the wake of a large and persistent aggregate demand shock. Finally, we show that these considerations can have potentially crucial implications for the design of monetary policy, especially under circumstances in which adjustments to the short-term interest rate are constrained by the zero lower bound.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Labor Force Participation and Monetary Policy in the Wake of the Great Recession. To get started finding Labor Force Participation and Monetary Policy in the Wake of the Great Recession, you are right to find our website which has a comprehensive collection of manuals listed.
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Pages: 61

Format: PDF, EPUB & Kindle Edition

Publisher: International Monetary Fund

Release: 2013

ISBN: 1306383749

Description: In this paper, we provide compelling evidence that cyclical factors account for the bulk of the post-2007 decline in the U.S. labor force participation rate. We then proceed to formulate a stylized New Keynesian model in which labor force participation is essentially acyclical during "normal times" (that is, in response to small or transitory shocks) but drops markedly in the wake of a large and persistent aggregate demand shock. Finally, we show that these considerations can have potentially crucial implications for the design of monetary policy, especially under circumstances in which adjustments to the short-term interest rate are constrained by the zero lower bound.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Labor Force Participation and Monetary Policy in the Wake of the Great Recession. To get started finding Labor Force Participation and Monetary Policy in the Wake of the Great Recession, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

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

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

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