Recent studies have indicated that the terms 'NAIRU' (non-accelerating inflation rate of unemployment) and 'natural … twentieth century. The analysis reveals that the overall inflation-forecasting utility of the natural rate of unemployment … rate of unemployment' are not interchangeable. While NAIRU is an empirical macroeconomic relationship estimated via a …

plot of seasonal adjusted quarterly data between the change of nominal wage rates and the unemployment rate shows a picture …

A simple plot of seasonal adjusted quarterly data between the change of nominal wage rates and the unemployment rate …-integration of wage rate changes and unemployment rate is not the argument that could be drawn on to sustain this scepticism. On the … separated components support Phillips’ hypothesis of a negative relationship between wage rate changes and the unemployment rate. …

generally find that the unemployment rate, productivity, and real wages have a unit root even if one controls for threshold … the variables of interest. For roughly half of the OECD countries in the sample, the unemployment rate, real wages, and … adjust faster to the long-run equilibrium, while shocks to unemployment take longer to extinguish. Also, according to the …

unemployment and turning the economies of the West into bazaars with excessive outsourcing and offshoring activities. On teh other …