Hoo Boy...

Duncan Black:

Eschaton: The View From The Mineapolis Fed: The problem is structural, nothing we can do, call us in a few years, naptime.

This estimate is based on a rather aggregative view of the labor market. It is important to dig deeper to get a better understanding of the problem, and there is a considerable amount of research under way exploring the quantitative importance of the various forms of mismatch. For example, the International Monetary Fund has recently...