tag:blogger.com,1999:blog-2761684730989137546.post1662895808046680558..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Goldman economist: Full Employment this yearmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-2761684730989137546.post-51859816535382156402016-05-18T15:20:34.283-04:002016-05-18T15:20:34.283-04:00Well, one needs to define "full employment,&q...Well, one needs to define "full employment," so that is a theoretical question where the so-called facts become theory-laden. <br /><br />The standard def = U3. <br /><br />Moreover, full employment implies full capacity/no output gap and therefore high inflation risk.<br /><br />If the theory is dodgy, expectations will be off, and policy (reaction function) will be wrong.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-49407283693879183872016-05-18T15:15:52.258-04:002016-05-18T15:15:52.258-04:00Tom to them its like 5% to 10% unemployment to us....Tom to them its like 5% to 10% unemployment to us...<br /><br />Aint going away until they do....<br /><br />This is like the scripture "the poor you will always have..."<br /><br />It aint going away until they do... this is just the way they think...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-73347729992571464992016-05-18T15:11:17.349-04:002016-05-18T15:11:17.349-04:00It's not NAIRU?It's not NAIRU?Peter Panhttps://www.blogger.com/profile/09473311771939167712noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-11115616083080339602016-05-18T11:57:18.180-04:002016-05-18T11:57:18.180-04:00What is "full employment"?What is "full employment"?Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-63928151608517458222016-05-18T09:40:36.321-04:002016-05-18T09:40:36.321-04:00Hatzius should check out this graph: http://data.b...Hatzius should check out this graph: http://data.bls.gov/timeseries/LNS12300060.Tylerhttps://www.blogger.com/profile/00251252135305301336noreply@blogger.com