Slack and prices during Covid-19: Accounting for labor market participation

Francesco D'Amuri,Marta De Philippis,Elisa Guglielminetti,Salvatore Lo Bello

Labour Economics（2022）

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摘要

•During Covid, advanced economies experienced large drops in labor force participation.•A PC augmented with the participation gap provides a more accurate slack measure.•In Italy, during Covid, virtually all slack was accounted for by the participation margin.

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关键词

Covid-19,Labor force participation,Labor market flows,Phillips curve,Inflation

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