"Countries across the globe face slow growth, low real interest rates, and persistently low inflation. This makes our economies less resilient to everyday shocks and less able to offset them with the tools we’ve traditionally relied on." - @MaryDalyEcon frbsf.org/economic-resea…
@marydalyecon "Expanding the array of automatic stabilizers that form part of the social safety net can help mitigate the depth and duration of economic downturns.
"Think of unemployment insurance, which kicks in automatically when things are bad, helping individuals smooth through a tough time while limiting the amplification of their loss throughout the economy.
"Recent research suggests that these types of programs are likely to be especially powerful in the new economic reality we face."
