Part of the growth of labor productivity may have to do with unusual, and transitory, hesitation on the part of businesses to hire, a topic to which I will return. Happily, however, the recent increases appear to have an important structural component as well.
Today’s conference on “Central Banker Education and Financial Stability” is making its debut appearance in the Euro Finance Week. It is the first time that the topic of education has featured so prominently in the financial market stability arena.