Irrational Exuberance, Again? [Eurodollar University, Ep. 179]
Eurodollar University
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Is There a Survivor Bias?
A rise in the 19 thirties wage rate could be explained by a labor reserve. Another possibility is that companies would keep workers around even though they didn't need them. And perhaps to day too, Ethers sort of a survivor bias on that micro level too.
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