Focused global cooperation would also offer greater scope for solutions that respect the legitimate interests of countries wanting to run their economies independently. 3. Brexit I’d like to discuss briefly what focused cooperation would mean for Brexit negotiations and the future relationship between the European Union and Britain.
A second explanation is that the relationship between wage growth and traditional measures of slack has weakened in the post-crisis period. There are many reasons why this weakening may have happened.8 Slack might be larger than we thought due to rising labour supply or mismeasurement of socalled “underemployment” in traditional measures of slack.