I thought I'd add a bit more to a series of posts about defining a "dynamic" equilibrium in unemployment where we don't look at a natural level of unemployment U*, but rather a natural rate of decrease (dU/dt)*. This doesn't necessarily have anything to do with information equilibrium (except to say it looks like the US economy is usually in this particular unemployment equilibrium), but rather a particular parameterization of the data. The first five posts are:
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Dynamic unemployment equilibrium (and…
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I thought I'd add a bit more to a series of posts about defining a "dynamic" equilibrium in unemployment where we don't look at a natural level of unemployment U*, but rather a natural rate of decrease (dU/dt)*. This doesn't necessarily have anything to do with information equilibrium (except to say it looks like the US economy is usually in this particular unemployment equilibrium), but rather a particular parameterization of the data. The first five posts are: