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Pastimes : Austrian Economics, a lens on everyday reality
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To: Don Lloyd who wrote (227)5/9/2003 10:11:52 PM
From: gpowell  Read Replies (1) of 445
 
Do characteristics of the measurement process produce their own bias?

Yes. There is an ongoing debate about why wages appear sticky. Some question the assumption that wages are sticky.

Assuming they are - then the issue is how sticky are they and can this account for cyclical unemployment.

Here is a critical review of a book that purported to explain cyclical unemployment. It might provide some background info on the discussion (nice reference section at the end as well).

j-bradford-delong.net
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