Economics professor John Burger, Ph.D., talks to CNBC about nominated Federal Reserve Chair Janet Yellen
October 11, 2013
John Burger, Ph.D., professor of economics at the Sellinger School, discusses Ms. Yellen's influential paper entitled "The Fair-Wage Effort Hypothesis and Unemployment," which she co-authored with her husband and economist George Akerlof, with CNBC. Burger says: "She is on the side that there are serious impediments in the labor market...the labor market won't create full employment by itself. And if you believe that there are serious impediments to full employment, that gives you the case for an active policy that stimulates the economy to drive the unemployment rate down."
The full article can be online at the CNBC website.