At Modeled Behavior, Karl Smith shares two graphs. He asks us to look at what happened to the output gap after 1983:
...and then at the output gap for now:
..and he asks us to consider whether we could see a rapid recovery over the next year. Smith says it si possible. Not likely, but possible. Read How Fast, Recovery here.
(Hat tip, Mark Thoma)
01-24-2012 9:23 AM