Writing in the New York Times in August 2012, Christina Romer, former chair of the Presidents Council
Question:
Writing in the New York Times in August 2012, Christina Romer, former chair of the President’s Council of Economic Advisers, argued that: “The academic literature shows that monetary policy can be very effective at reducing unemployment in situations like ours.”
a. What did Romer mean by “situations like ours”?
b. Are there situations in which monetary policy would be ineffective at reducing unemployment?
Briefly explain.
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a What did Romer mean by situations like ours Christina Romers statement refers to economic situations characterized by high levels of unemployment an...View the full answer
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Related Book For
Money Banking And The Financial System International Edition
ISBN: 978-1292000183
2nd Edition
Authors: R. Glenn Hubbard ,Anthony P Obrien
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