jblndl The rapid rise in part-time employment has undermined what was, until now, the instrument of choice to evaluate the job market. What comes in its place?
-Analysis-
PARIS — It’s a new puzzle for central bankers in developed countries. Improvements in economic activity and the subsequent drop in unemployment levels over the past two years haven’t translated into higher wages, and inflation has thus been almost non-existent.For those versed in economics, everything is happening as if the Phillips curve no longer existed. This longstanding model is based on the assumption of an inverse relationship between the inflation […]
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