In April 2010, Christina Romer, who was then serving as chair of the Presidents Council of Economic
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In April 2010, Christina Romer, who was then serving as chair of the President’s Council of Economic Advisers, argued:
The overwhelming weight of the evidence is that the current very high—and very disturbing—levels of overall and long-term unemployment are not a separate, structural problem, but largely a cyclical one.
Was Romer arguing that the high unemployment in 2010 was largely due to problems with aggregate demand or to problems with aggregate supply?
Briefly explain.
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Money Banking And The Financial System International Edition
ISBN: 978-1292000183
2nd Edition
Authors: R. Glenn Hubbard ,Anthony P Obrien
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