He gained his Ph.D. at the Massachusetts Institute of Technology in 1981 with a thesis titled `` Essays in unemployment business.employment_tenure economic activity '' under the supervision of Robert Solow .

On the one hand , in 2013 Keynesian economists such as Paul Krugman of Princeton University see unemployment business.employment_tenure as too high relative to full employment and the NAIRU and thus favor increasing the aggregate demand for goods and services and thus labor in order reduce unemployment .

Arthur Burns , Nixon 's appointee to chair the Federal Reserve , shifted away from a tight-money policy because the nation ’ s unemployment business.employment_tenure sharply rising as was inflation .