The NAIRU‑Concept: A Few Remarks
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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This note gives a brief survey of main theoretical and empirical issues with respect to the NAIRU concept. According to modern labour market literature NAIRU is defined as the rate of unemployment at which inflation stabilises in the absence of any wage-price surprises. Conventional thinking about the equilibrium unemployment rate assumes that in...
