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Friday, May 25, 2012

President Kocherlakota thinks full employment is near. Really?

I guess the idea here is that long-run equilibrium full employment has changed recently after what we have been through so that 8% unemployment is all we are going to get. Since prices seem to be rising now, the president of the Minneapolis Fed seems to think we are closing in on a new NAIRU target. And if that is did you like the recovery?

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