Grasping Reality on TypePad, by Brad DeLong

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Supply and Demand Shocks, and Seasonal Adjustment

Think that there are no such things as aggregate fluctuations generated by shifts in tastes and technologies? Think again. Look at the pattern of monthly payroll employment changes:

All Employees Total Nonfarm Payrolls FRED St Louis Fed

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January 10, 2019 at 16:02 in #highlighted, #labormarket, #macro, #supplyshocks, #teachingeconomics, #teachingmacro | Permalink | Comments (0)