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Broadbent: Compositional shifts in the labour market
I want to begin by thanking the organisers for putting together this excellent conference and for asking me to come along. I’m honoured to be in such distinguished company. Up front, I also want to thank Bank economists – especially Matt Corder and Alina Barnett – for their help. If this were a working paper it would have multiple authors. Today’s tagline – “from micro to macro” – is a sobering one for macroeconomists. We’re used to describing the economy in broad, sweeping terms, using numbers on aggregate output, total employment, average wages. Yet, in practice, the modern economy is hugely ... (full story)
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