Fallick, Bruce; Lettau, Michael K.; Wascher, William L. - 2015
and what implications such rigidity might have for the macroeconomy at low levels of inflation. The Great Recession of … 2008-09, during which the unemployment rate topped 10 percent and price deflation was at times seen as a distinct … possibility, along with the subsequent slow recovery and persistently low inflation, has added to the relevance of this line of …