I am now using Friday’s blog space to provide draft versions of the Modern Monetary Theory textbook that I am writing with my colleague and friend Randy Wray. We expect to complete the text by the end of this year. Comments are always welcome. Remember this is a textbook aimed at undergraduate students and so the writing will be different from my usual blog free-for-all. Note also that the text I post is just the work I am doing by way of the first draft so the material posted will not represent the complete text. Further it will change once the two of us have edited it.
Chapter 10 The Labour Market
Sections 10.1 and 10.2 were sketched in this blog – The labour market is not like the market for bananas, while Section 10.3 was started in this blog – Labour market measurement – Part 1. Last week I added – Labour market measurement – Part 2.
[Today I move on to discuss problems with the unemployment rate as a measure of labour market performance]
[NEW TEXT FOR TODAY STARTS HERE]
10.6 Duration of UnemploymentBill Mitchell — billy blog
Labour market measurement – Part 3
Bill Mitchell
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