[PEN-L:29883] RE: Re: Bushies say NAIRU is 4.9

["Devine, James" <jdevine@xxxxxxx>]

Title: RE: [PEN-L:29873] Re: Bushies say NAIRU is 4.9

according to one estimate appearing in THE ROARING NINETIES, edited by Alan Kreuger and Robert Solow, the US NAIRU is about 5.1 % of the civilian labor force. Of course, the concept is very, very weak. The standard error of estimate is quite high relative to the rate.

------------------------
Jim Devine jdevine@xxxxxxx &  http://bellarmine.lmu.edu/~jdevine

> -----Original Message-----
> From: Michael Perelman [mailto:michael@xxxxxxxxxxxxxxxxx]
> Sent: Monday, August 26, 2002 9:59 AM
> To: pen-l@xxxxxxxxxxxxxxxxxxx
> Subject: [PEN-L:29873] Re: Bushies say NAIRU is 4.9
>
>
>
> Are they just trying to lower expectations in anticipation of poor
> economic performance?
>
> On Mon, Aug 26, 2002 at 12:22:35PM -0400, Max B. Sawicky wrote:
> >  . . . but it will take five years to get there.
> >
> > (p. 15, Mid-Session Review, OMB)
> >
> >
> > mbs
> >
>
> --
> Michael Perelman
> Economics Department
> California State University
> Chico, CA 95929
>
> Tel. 530-898-5321
> E-Mail michael@xxxxxxxxxxxxxxxxx
>