Accounting for job loss.

Authors :: Clement, Douglas
Source :: Region (10453369); Jun2013, Vol. 27 Issue 2, p39-41, 3p
Publication Year :: 2013
Abstract: In this article, the author discusses research which developed a theory that is able to account analytically for U.S. consumption and employment patterns experienced during the 2008-2009 Great Recession. It references the Minneapolis Fed Working Paper 703, "The Stolper-Samuelson Effects of a Decline in Aggregate Consumption," authored by Fed consultant Erzo G. J. Luttmer and published online at minneapolisfed.org. The article also discusses how Luttmer supported his theory.