Income matters

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Mark has put together some very good analysis of the unemployment rate and GDI. I have found similar results -myself, though from different tests — firms exist in the nominal economy, so it makes sense that GDI (a real measure adjusted for the terms of trade) better explains the unemployment rate.


  1. off topic,

    Dave Altig at Macro-blog has a terrific short post on household surveys and employment.
    highly recommended

    Simon Wren Lewis at Mainly Macro also has a god piece on Structural deficits and problems of measuring them ( in the UK).


    1. thanks – i have been very busy so i have let the blog go a little. hopefully i will be able to get back to it before too long. i will check these posts out.

      good weekend

  2. I have to confess I did not put in the links.

    Ricardo, the good fellow he is, did that

    Enjoy though

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