Yes. That final "etc." includes the institutional arrangements about working hours. Sharply shorter hours -- four days, say -- will lower the unemployment rate. And the effect on GDP growth would also be welcomed by some.
On Jul 31, 2013, at 10:01 AM, Doug Henwood wrote: > > On Jul 31, 2013, at 12:53 PM, Jim Devine <[email protected]> wrote: > >> I wasn't disagreeing with raghu on this. Besides, the last issue of >> LBO used a version of Okun's "Law" (which is admittedly noisy and >> changes over time). > > Well, to be pedantic, I was tying employment growth to GDP growth. The > unemployment rate is also sensitive to participation rates, demographics, etc. > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
