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

WP/13/245

Labor Force Participation and Monetary Policy in the Wake of the Great Recession
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 times" (that is, in response to small or transitory... READ MORE...

Publication date: December 2013
ISBN 9781484301456
$18.00

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Publication date: December 2013

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Publication date: December 2013

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