tag:blogger.com,1999:blog-5908830827135060852.post2218198423987883838..comments2024-03-29T02:54:56.523-04:00Comments on Bond Economics: From J* To U*: What My Conjecture Is AboutBrian Romanchukhttp://www.blogger.com/profile/02699198289421951151noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5908830827135060852.post-22287627871954851902017-11-26T10:49:36.255-05:002017-11-26T10:49:36.255-05:00U* is the same thing, just using the unemployment ...U* is the same thing, just using the unemployment rate instead of J.Brian Romanchukhttps://www.blogger.com/profile/02699198289421951151noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-25148116707196520642017-11-26T10:49:02.484-05:002017-11-26T10:49:02.484-05:00J (a notation I made up) is the percentage of the ...J (a notation I made up) is the percentage of the workforce in the Job Guarantee pool. For simplicity, I assume that workers are either working in the “private sector” or in the Job Pool. (Regular government workers would be paid a market wage, and lumped in with truly private sector workers.)<br /><br />J* is the imagined “natural rate” of J at which point there is no acceleration in inflation, and is independent of fiscal policy. The proof is that no such J* exists.Brian Romanchukhttps://www.blogger.com/profile/02699198289421951151noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-6290923838732829832017-11-26T09:55:36.245-05:002017-11-26T09:55:36.245-05:00Brian,
Could you explain definitions for terms J*...Brian,<br /><br />Could you explain definitions for terms J* and U*?<br /><br />I am guessing that J* is the change between measurements of " the percentage of the workforce that is employed by the Job Guarantee as J".Roger Sparkshttps://www.blogger.com/profile/01734503500078064208noreply@blogger.com