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.
Volume (Year): 26 (2000)
Issue (Month): s1 (July)
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"Welfare, the Earned Income Tax Credit, and the Labor Supply of Single Mothers,"
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795, Princeton University, Department of Economics, Industrial Relations Section..
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