by Karl Smith, Modeled Behavior Editor’s Note: Some references for readers who need background on the concept of structural unemployment would include Wikipedia, Paul Krugman and Gary Becker/Robert Posner. One reason to think that this recession is not structural, at least in the way that some people have argued, is to look at state-by-state performance. …
Tag Archives: Karl Smith
Structural Shifts: Comparing the Last Two Recessions
by Karl Smith, Modeled Behavior Dave Altig offers the following If you try, it isn’t too hard to see in this chart a picture of a labor market that is very close to “normalized,” excepting a few sectors that are experiencing longer-term structural issues. First, most sectors—that is, most of the bubbles in the chart—lie …
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Savings, Work, Keynes and Policy Realism
Some things are truths, supported by facts. When facts and beliefs are in conflict, which should win? The answer is at the heart of our inability to solve problems.
Fannie and Freddie Acquitted
The government sponsored enterprises (now government owned) Fannie and Freddie have been castigated as being a significant cause of the housing bubble and mortgage crisis by pushing low income housing. The facts do not support that conclusion.
Inflation and Jobs: The Big Picture
Historical patterns show correlation of employment with inflation. If deflationary pressures continue there appear to be very poor prospects for improved employment.