The NAIRU as a Theory of Equilibrium Unemployment

Assesses the NAIRU framework for analysing the determinants of equilibrium unemployment, as expressed in Layard, Nickell and Jackman's Unemployment: Macroeconomic Performance and the Labour Market. It is argued that the NAIRU has produced many useful insights regarding the effects of socio-economic factors on wage determination, but has not produced a plausible account of the determination of equilibrium unemployment.

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Year of publication:	1993
Authors:	Cross, Rod
Published in:	Journal of Economic Studies. - Emerald Group Publishing. - Vol. 20.1993, January, 1/2, p. 116-122
Publisher:	Emerald Group Publishing
Subject:	Economics \| Labour market \| Macroeconomics \| Pay \| Social economics \| Unemployment

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004987103