Sunday, May 14, 2017

Brian Romanchuk — Labour Market Tightness Confusion

This article discusses a few topics that have struck my interest in recent days. Unfortunately, discussions of theory are back. I am starting to pursue a collaboration with Alexander Douglas (an academic philosopher), as we wish to write an article about Dynamic Stochastic General Equilibrium (DSGE) models from a philosophy of science perspective. As a result, I feel somewhat like I am trapped in a parody of The Godfather, Part III, being pulled back in to discuss DSGE macro. Although I want to otherwise avoid being bogged down in theory, the belief that we can discuss the empirical data without reference to theory in this case is just wishful thinking....
Bond Economics
Labour Market Tightness Confusion
Brian Romanchuk

1 comment:

Matt Franko said...

The 2 main problems are 1. we've had 40m working age people come in between legals and illegals... . it's not a closed system in real terms with the high immigration... and 2 we've let the imports run wild with the high trade deficits creating foreign USD savings so it's not a closed system in financial terms either...

The systems are not closed in fact they are not even regulated at all ... it's been a libertarian utopia ....