First, it is important to acknowledge that weak aggregate demand and anemic economic growth, not an acceleration in the labor-displacement rate, explains the slow jobs growth of the last decade. Under these conditions, monetary policy should remain accommodative and further fiscal austerity should be eschewed.
在此政策制定者们有何对策？首先，一定要认识到导致过去十年的职位增加放缓的原因是疲软的总需求和经济增长，而非劳动替代率的加速。在这种情况下，货币政策应该更加灵活且避免进一步的财政紧缩。