Papadimitriou, Dimitri B. - Levy Economics Institute - 1998
opportunity program, such as the "employer of last resort policy," would satisfy both the full employment and noninflationary …Although the U.S. unemployment rate in 1998 was at its lowest level since the late 1960s, the nation's employment … cannot go without creating inflation, this paper asks whether the current employment levels are the best that can be achieved …