tag:blogger.com,1999:blog-5908830827135060852.post6247402981127533302..comments2024-03-01T02:40:14.946-05:00Comments on Bond Economics: How Can The Household Sector Cause Recessions?Brian Romanchukhttp://www.blogger.com/profile/02699198289421951151noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5908830827135060852.post-11840268237399502062019-03-25T07:37:46.354-04:002019-03-25T07:37:46.354-04:00Ah yes, the “Great Vacation of 2008” theory. It wi...Ah yes, the “Great Vacation of 2008” theory. It will show up in the chapter on neoclassical economics. It’s what the mathematics says...Brian Romanchukhttps://www.blogger.com/profile/02699198289421951151noreply@blogger.comtag:blogger.com,1999:blog-5908830827135060852.post-13708950439977638632019-03-24T20:16:06.792-04:002019-03-24T20:16:06.792-04:00Brian, what about when large parts of the househol...Brian, what about when large parts of the household sector suddenly decide they would rather not work (raise their reservation wage or whatever). I remember reading somewhere that this (and minimum wages) is what causes unemployment or something. Maybe you could model this phenomenon similar to the rise in energy costs. On the other hand, I kind of hope you don't take it that seriously.Jerry Brownnoreply@blogger.com