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The labor market will recover, with or without the Fed

TheMoneyIllusion          13 August 2017 12:00 AM

I recently read by a paper by Laurence Ball, which advocated the use of a “high pressure economy” to bring the unemployment rate down to low levels. I’m generally opposed to that sort of policy, as I believe it leads to a procyclical monetary policy—high inflation during booms and low inflation during recessions. That makes ... Continue reading →

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