Job Market Papers

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JMP Vox presents columns based on the "Job Market Papers" of leading young scholars - the economists who are currently in contention for the world's most prestigious assistant professorships, post-doctoral posts, and entry-level research positions in the public sector.

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Lead Commentaries

Douglas Campbell , 15 April 2014

The secular stagnation hypothesis is back. Several prominent economists claim that the US may have entered a prolonged period of anaemic economic growth caused by weak aggregate demand. This column argues that the build-up of trade deficits caused by the appreciation of the dollar can explain most of the decline in manufacturing employment, output and investment in the US. Aggressive monetary policy targeted at increasing inflation could help by effectively taxing the inflow of foreign reserves, thereby leading to a depreciation of the dollar.

Scott Baker , 19 January 2014

The dramatic fall in consumption during the Great Recession was accompanied by an equally dramatic increase in household debt in the years preceding it. This column examines the relationship between household debt and consumption behaviour, and the channels through which this link operates. The column concludes that the relationship is driven almost entirely by the presence of financial constraints, such as liquidity or borrowing limits.