NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Labor Market Slack and Monetary Policy

David G. Blanchflower, Andrew T. Levin

NBER Working Paper No. 21094
Issued in April 2015

---- Acknowledgments ----

Blanchflower is the Bruce V. Rauner professor of economics at Dartmouth College, a professor of economics at the University of Stirling, a research associate of the National Bureau of Economic Research, and a program director and research fellow at the Institute for the Study of Labor. Levin is currently an adviser in the research department at the International Monetary Fund, and he will be joining the Dartmouth faculty as a professor of economics in July 2015. We appreciate many invaluable conversations with Christopher Erceg, Melinda Pitts, Adam Posen, Lars Svensson, and John Taylor. Nonetheless, the views expressed here are solely those of the authors and do not necessarily reflect the views of the International Monetary Fund, the National Bureau for Economic Research, or any other person or institution.

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