Strong Employment, Low Inflation: How Has the US Economy Done So Well?
AbstractThis paper reviews the strong economic news from the United States over the 1990s, with continuing economic growth in the presence of low unemployment and low inflation. This favourable unemployment- inflation trade-off has been possible in part because of a series of factors that kept price inflation low. In addition, a number of labour market changes have also allowed output (and employment) to grow without wage inflation. The paper explores a variety of theories about the long-run prospects for these trends to continue. The final section discusses some policy issues raised by this ongoing expansion.
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Bibliographic InfoArticle provided by University of Toronto Press in its journal Canadian Public Policy.
Volume (Year): 26 (2000)
Issue (Month): s1 (July)
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Postal: University of Toronto Press Journals Division 5201 Dufferin Street Toronto, Ontario, Canada M3H 5T8
Web page: http://economics.ca/cpp/
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- Bruce D. Meyer & Dan T. Rosenbaum, 1998.
"Welfare, the Earned Income Tax Credit, and the Labor Supply of Single Mothers,"
JCPR Working Papers
32, Northwestern University/University of Chicago Joint Center for Poverty Research.
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- Lawrence Katz & Alan Krueger, 1999. "The High-pressure U.S. Labor Market of the 1990s," Working Papers 795, Princeton University, Department of Economics, Industrial Relations Section..
- Yesim Kustepeli, 2005. "A comprehensive short-run analysis of a (possible) Turkish Phillips curve," Applied Economics, Taylor and Francis Journals, vol. 37(5), pages 581-591.
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