Federal Reserve's First Monetary Policy Report for 1996: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, ... Congress; February 21, 1996 (Classic Reprint) - Tapa blanda

Sinopsis

Excerpt from Federal Reserve's First Monetary Policy Report for 1996: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Fourth Congress; February 21, 1996

Structural forces may be assisting us in this regard. Increases in producers' costs and output prices proved to be a little lower last year than many had anticipated. While it is too soon to draw any definitive conclusions, this experience provides some tentative evi dence that basic on-going changes in the structure of the economy may be helping to hold down price increases. These changes stem from the introduction of new technologies in a wide variety of pro duction processes throughout the economy.

The more rapid advance of information and communications technology and the associated acceleration in the turnover of the capital stock are being mirrored in a brisk restructuring of firms. In line with their adoption of new organizational structures and technologies, many enterprises are finding that their needs for var ious forms of labor are evolving just as quickly. Partly for that rea son, most corporate restructurings have involved a significant num ber of permanent dismissals.

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