Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/171174
Authors: 
Benito, Andrew
Year of Publication: 
2017
Citation: 
[Journal:] IZA World of Labor [ISSN:] 2054-9571 [Year:] 2017 [Issue:] 340
Abstract: 
By supporting aggregate demand, including by easing financial constraints that affect businesses and house­holds, accommodative monetary policy increased employment during the 2008 financial crisis and its aftermath. But, monetary policies that ease financial pressures also reduce necessary restructuring that normally contributes to productivity growth. One reason why productivity growth has been weaker in the aftermath of the crisis is that aggressive monetary policy actions have weakened underlying supply-side performance and labor productivity.
Subjects: 
monetary policy
labor demand
productivity
JEL: 
E5
J23
Persistent Identifier of the first edition: 
Document Type: 
Article

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