Ourdatasuggestthat repeated shock to the same location is likely to be more effective to establish suppression than repeated shock to different locations.
U.S. market watchers of all stripes have grown increasingly alarmed by jobs data here, which seem to suggestthatour current unemployment rate of 8.2% is either an illusion or unsustainably low.
He says the crisis might have robbed us of some of that economic slack, but there is nothing in the recent data, including the productivity numbers, to suggestthat it has permanently destroyed as much of our potential as the OBR and others suggest.