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And that means that we are highly uncertain about the amount of slack in the economy currently and prospectively; uncertain about the extent of the consequent downward pressure on domestically-generated inflation; and, thus, uncertain about the path of output and employment consistent with non-inflationary growth.
"Viewed through the lens of the Federal Reserve's dual mandate — the pursuit of the highest level of employment consistent with price stability — the current situation is wholly unsatisfactory," the New York Fed president, William C. Dudley, said in a speech in Midtown Manhattan.
But I do think an objective look at the data should lead the next Fed chief to be very careful to give adequate weight to the full-employment side of the central bank's dual mandate (i.e., maximum employment consistent with stable prices).
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Our results with respect to education and mothers' employment were consistent with national trends indicating an increase in employment as education levels rise.
Comparing our results to the broader literature on effects of ALMPs on labour market outcomes (see the surveys in Stanley et al. 1999; Heckman et al. 1999; Kluve and Schmidt 2002; Kluve 2010; Card et al. 2010), the positive effect of employment with a wage subsidy on the hazard rate to regular employment is consistent with most previous studies.
He also noted that, in light of the Fed's dual mandate of creating the highest level of employment while consistent with price stability, "the current situation is wholly unsatisfactory".
The high ranking of the ICF category remunerative employment, was consistent with the high numbers reporting work-relatedness of their shoulder disorder in a previous epidemiological study [ 2].
These estimates of decreased mortality during active employment seem consistent with our findings of MRR = 0.60 for the age and period adjusted model.
However, more than half of survey respondents expressing stigma concerns had been on therapy for over three years; and the interviews highlighted persistent concern that HIV-related stigma negatively affected relationships and employment opportunities, consistent with other studies [ 11, 12, 32, 33].
For example, the WB key informant's assertion that countries must get their people to have paid work first, then informal employment and then formal employment is not consistent with the global evidence base.
Columns 4 to 5 reveal that the overall effect on off-farm work was due to an increase in wage employment, which is consistent with the discussion in Section 3.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com