Scott Sumner mentioned Eurozone unemployment today, so I thought I'd give it the treatment in these posts for the US and for vehicle miles driven. Here is the entropy minimization yielding an equilibrium rate of 1.2 percentage points fall in unemployment per year (or 0.1 percentage points per month):
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Eurozone unemployment equilibrium
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Scott Sumner mentioned Eurozone unemployment today, so I thought I'd give it the treatment in these posts for the US and for vehicle miles driven. Here is the entropy minimization yielding an equilibrium rate of 1.2 percentage points fall in unemployment per year (or 0.1 percentage points per month):