A tale of three gaps: unemployment, capacity utilization and output by Sergio A. Lago Alves in joint work with Arnildo S. Correa in Seminar of the Banco Central do Brasil – XVI Annual Inflation Targeting. “The sources of the large decrease of unemployment rates in Brazil is yet to be completely understood. It might pass through demographic issues, inter-sector labor migration, economic policy stimuli etc; A microfounded model is under development to capture and test those phenomena.”
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