Discussion of “‘I quit’ is all the rage. Blip or sea change?” An interview with Lawrence Katz, The Harvard Gazette, Oct 2021. 1. Explain, using the available tools of macroeconomics discussed so far in class, what is the potential outcome of “the great resignation” for: a) The natural rate of unemployment b) Total GDP c) GDP per worker d) Wages 2.Draw relevant diagrams when seem necessary. 3.Questions for discussion: a) What kind of policies the government can implement to mitigate the downsides of the current labour market trends? b) Are there any monetary policy tools that could help in the long run (assuming the changes described by Katz are here to stay)?

Discussion of “‘I quit’ is all the rage. Blip or sea change?” An interview with Lawrence Katz, The Harvard Gazette, Oct 2021. 1. Explain, using the available tools of macroeconomics discussed so far in class, what is the potential outcome of “the great resignation” for: a) The natural rate of unemployment b) Total GDP c) GDP per worker d) Wages 2.Draw relevant diagrams when seem necessary. 3.Questions for discussion: a) What kind of policies the government can implement to mitigate the downsides of the current labour market trends? b) Are there any monetary policy tools that could help in the long run (assuming the changes described by Katz are here to stay)?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter15: Macroeconomic Viewpoints: New Keynesian, Monetarist, And New Classical

Section: Chapter Questions

Problem 7E

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