Until recently, the idea that economy could simultaneously have low levels of unemployment and low inflation seemed to be a fantasy. Conventional wisdom, after all, holds that when unemployment is low, businesses need to pay higher wages to attract workers, which pushes up the cost of goods and services, ... READ MORE >
NAIRU
The post-coronavirus economy: What to expect, and what is needed
We think that the U.S. economy has ended its pandemic-induced free fall. Tentative signs of the recession’s nadir are evident in near real-time data across the economy. It is now time to begin considering the shape of the post-pandemic economy: What it will look like, whose interests are given ... READ MORE >