Paul Krugman wrote Spilled Beveridge explaining that the recent talk about the Beveridge curve explaining that unemployment is structural was based on bad data. "No, it’s not structural. And we’ll only face a “new normal” of high unemployment if policy makers want it that way." Monetary and fiscal policy (that is Keynesism) can help unemployment.
The details are here: New Paper: What Does the Dramatic 2009-2010 Revisions in Job Openings Tell Us About Structural Unemployment?
No comments:
Post a Comment