Econ Comments & Analysis
FOX Business | Could Housing Save the Labor Market?
When David Pendery, a corporate public relations specialist, decided to move his family from Colorado to Illinois this year for work, his biggest worry was whether he would be able to sell his home quickly.
AEI | A long-term problem for the economy
In a perfect frictionless economy, there would never be any unemployment. If a number of workers were expected to lose their jobs tomorrow, firms would anticipate an increase in the supply of workers, everybody’s wage would drop, and higher demand for the newly available workers would emerge instantly. In the real world, of course, there are many frictions that make non-zero unemployment possible. Most important are skill mismatches and geographic mismatches.
