tag:blogger.com,1999:blog-33399132.post2823989493429707340..comments2024-03-04T08:09:21.453-08:00Comments on Richard's Real Estate and Urban Economics Blog: When assumptions drive the resultRichard Greenhttp://www.blogger.com/profile/02161226214739034402noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-33399132.post-60023762876457818872010-09-20T09:10:44.277-07:002010-09-20T09:10:44.277-07:00It's hard to do involuntary unemployment when ...It's hard to do involuntary unemployment when you have a representative agent model. <br /><br />Basically you can use a trick of indivisible labor (think 9am - 5pm) with a "lottery" to see who gets unemployed. <br /><br />Agreed this area needs a lot more work. I'm glad though that we're thinking about what governments can/should do in response to big shocks. Think of this as the theoretical side to explain/justify the empirical multipliers.Unknownhttps://www.blogger.com/profile/07762827797145790446noreply@blogger.com