Sticky wages are something it’s quite possible to study in isolation from the business cycle and it should be no surprise that people have done so. I found a lot of enlightening things in that link, though of course it doesn’t answer how much sticky wages end up contributing to unemployment. All the same, though, I don’t think I would place much trust in economic models that don’t include sticky wages at all.
Kinsei
Karma: 91
I should mention that I’ve taken the survey.
Well, remember that that’s a zero sum game within the community since it’s coming out of Yvain’s pocket. I was going to reflexivly cooperate, then I remembered that I was cooperating in transfering money from someone who was nice enough to create this survey, to people who were only nice enough to answer.
My goodness, a meetup I might actually be able to attend!
Yes another Cambridge meet up which I’ll be out of town for. My prior for this being a conspiracy was rather low, but each incident pushes probability of that being true higher :)
And a third who would prefer the following weekend.
I had already decided to sign up for cryonics, but I think I’ll be more expeditious about arranging it now.
“It’s much better to live in a place like Switzerland where the problems are complex and the solutions are unclear, rather than North Korea where the problems are simple and the solutions are straightforward.”
Scott Sumner, A time for nuance