Strong Employment, Low Inflation: How Has the US Economy Done So Well?
This 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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Volume (Year): 26 (2000)
Issue (Month): s1 (July)
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Lawrence F. Katz & Alan B. Krueger, 1999.
"The High-Pressure U.S. Labor Market of the 1990s,"
Brookings Papers on Economic Activity,
Economic Studies Program, The Brookings Institution, vol. 30(1), pages 1-88.
- Lawrence Katz & Alan B. Krueger, 1999. "The High-pressure U.S. Labor Market of the 1990s," Working Papers 795, Princeton University, Department of Economics, Industrial Relations Section..
- Bruce D. Meyer & Dan T. Rosenbaum, 2001. "Welfare, the Earned Income Tax Credit, and the Labor Supply of Single Mothers," The Quarterly Journal of Economics, Oxford University Press, vol. 116(3), pages 1063-1114.
- 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.
- Bruce D. Meyer & Dan T. Rosenbaum, 1999. "Welfare, the Earned Income Tax Credit, and the Labor Supply of Single Mothers," NBER Working Papers 7363, National Bureau of Economic Research, Inc.
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