Reassessing the NAIRUs after the Crisis
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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The financial crisis has resulted in a substantial increase in unemployment in the OECD. This paper shows that this increase has reversed the reduction in structural unemployment which has been estimated to have occurred in most OECD countries since the late 1990s. Structural unemployment is defined as a time-varying NAIRU derived from the...
