DURÁN, CHRISTIAN; RAMOS, RAÚL - In: Estudios de Economía Aplicada 24 (2006) Agosto, pp. 647-647
The non-accelerating inflation rate of unemployment (NAIRU) describes the rate of unemployment at which there is equilibrium between workers’ wage growth aspirations and the objective of firms of maximizing profits. In this article, we develop a theoretical model with the aim of quantifying...