…therefore high target unemployment. In fact, inflation phobia is statistically significantly correlated with unemployment. This is most dramatically shown by a scatter of decade averages. The 1970s are the only…

…the other hand, the Glenn Rudebusch rule which is a variation of the Taylor rule measures unemployment to a Natural rate of unemployment. Rudebusch target Fed rate = natural real…

…causing unemployment (certainly not chronically high unemployment). The chronically high unemployment followed the abandonment of Keynesian economics. Holtz-Eakin could just have well have written “Adam Smith’s proposals were disasterous as…

…to decelerate sharply before the onset of the next recession. It hasn’t happened yet: Turning from wages to unemployment, weekly initial jobless claims tend to lead the unemployment rate by…

…portend some material declines in the unemployment rate in coming quarters….ALL ELSE EQUAL. For example, a simple bivariate regression would forecast a 7.5% unemployment rate if the corporate saving rate…

…This implies much more than just a frictional drop up 13,000′ of drill string, but some obstruction as well. Since then sand entrained with the gas and oil has eroded…

…calculate odds correctly. (This is a good thing—at its worst, it leads to more frictional unemployment as those dreams fade or are restructured.) But “casino capitalism” is good for presenting…

…all mark unemployment rates that are 130% or more above their cyclical lows. Note the Netherlands is not consistent with core performance – while the unemployment rate is low, 4.9%,…

…materially alter the 2010 unemployment rate nor its trend in any way. By my calculations – please correct me if I’m wrong – the unemployment rate would have been 9%…

…stubbornly high unemployment. The only way to reduce a deficit caused by unemployment is to reduce unemployment. And this must be done with a substantial component of private financing, which…