tag:blogger.com,1999:blog-5984451426701094678.post2088410212144497074..comments2024-03-15T03:29:26.512-04:00Comments on Steve Allen's Blog: Rajan's take on unemploymentSteve Allenhttp://www.blogger.com/profile/10546186762363913670noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5984451426701094678.post-88666134696562833302011-02-10T16:57:19.168-05:002011-02-10T16:57:19.168-05:00Brandon:
Thanks for the clarification. That'...Brandon:<br /><br />Thanks for the clarification. That's what I guess for relying on journalists' summaries of academic studies. <br /><br />SGAAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5984451426701094678.post-11957442556926074722011-01-18T13:58:30.153-05:002011-01-18T13:58:30.153-05:00Dr. Allen, Gregory Mankiw posted on his blog an em...Dr. Allen, Gregory Mankiw posted on his blog an email from Erik Hurst regarding Rajan's take on his preliminary data. In this quote, Hurst addresses Rajan's conclusion that up to 3 percentage points of total unemployment can be attributed to construction: <br /><br />"Raghu reported that we are finding that upwards of 3 percentage points of total U.S. unemployment can be explained by structural forces. That is not what we have found. Preliminary back of the envelop calculations suggest that upwards of 3 percentage points of the unemployment rate in high unemployment rate states like Nevada or Arizona may be due to structural forces – not 3 percentage points of total U.S. unemployment." <br /><br />Just thought I'd post,<br /><br />Brandon AlexanderAnonymousnoreply@blogger.com