Monday, April 18, 2016

Mark Thoma — Adjusting to Economic Shocks Tougher than Thought


Labors market not as resilient as assumed. And it's not just "sticky" wages (wage inelasticity).

You know, like real Keynesians have been saying. 

Wage stickiness is "bastard Keynesian."

Economist’s View
Adjusting to Economic Shocks Tougher than Thought
Mark Thoma | Professor of Economics, University of Oregon

2 comments:

Roger Erickson said...

Mark Thoma,
Captain Obvious

MortgageAngel said...

Right up there with hammering a nail with a screwdriver,eating spaghetti with a spoon, sipping Boba through a soda straw...