Although aggregate demand appears to have grown rapidly in the third quarter, nonfarm payrolls continued to fall through August and increased only a bit in September - the result of ongoing efforts by businesses to restructure their operations and boost efficiency.
Yet, it is no easy task; and that is why solid, in-depth analysis, looking at these issues from different angles and with different tools, is surely needed. The first part of today’s workshop will provide several interesting papers which attempt at doing that.