Marv: >> Really? Kocherlakota has been arguing for months now that the Fed target of >> a 6.5% unemployment rate is too high. He wants the rate to drop to 5.5% >> before the Fed tightens, and was among those who felt Bernanke's recent >> "tapering" comments, which provoked an abrupt rise in interest rates, were >> premature.
Doug: > Kocherlakota had a rare and amazing change of heart sometime last year. He > dropped the job skills mismatch theory of unemployment and did a 180. How > often does that happen? Just today, Krugman asked if there were any conservative economists who have done this, coming up with no answer. PK: > And I’m trying, unsuccessfully, to think of a single prominent conservative economist who has responded to the complete failure of his predictions by changing his views....< (from http://krugman.blogs.nytimes.com/2013/06/28/three-unsayable-words/ ) -- Jim Devine / "Reality is that which, when you stop believing in it, doesn't go away." -- Philip K. Dick _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
