Monetary policy and the labour market
This speech Irma Rosenburg, first deputy governor of the Swedish Riksbank, explores the relationship between monetary policy and the labour market.
"During the years 2004-2005 inflation was noticeably below the target", Rosenburg notes. "It may therefore be relevant to claim that the high unemployment is largely due to incorrectly balanced monetary policy."
Rosenburg proceeds to argue that inflation has undershot the central bank's inflation target in recent years, mainly due to unexpectedly
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