JOURNAL ARTICLE

Bernanke and Blanchard Say Central Banks Need Cooler Job Markets.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Curran, Enda 3 of 3

Abstract

Former Federal Reserve Chair Ben Bernanke and former International Monetary Fund Chief Economist Olivier Blanchard, in collaboration with ten central banks, have conducted an analysis on the impact of labor market cooling on central bank inflation targets. They argue that in most countries, reducing vacancy-unemployment ratios is necessary to achieve these targets. The relationship between unemployment and inflation has been controversial, with some economists suggesting that unemployment would need to increase significantly for inflation to cool. However, Bernanke and Blanchard emphasize that wage demands remain an important factor for policymakers to consider. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/05, pN.PAG
  • Document Type:Article
  • Subject Area:Biography
  • Publication Date:2024
  • Accession Number:177291798
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