Macroeconomics beyond the nairu
Auteur :
Storm, Servaas / Naastepad, C. W. M.
Éditeur :
Harvard University Press
ISBN :
9780674062276
Date de publication :
2 janv. 2012
Dimensions :
23,5 x 15,6 cm
Langue :
Anglais
Pays d'origine :
USA
The authors make a strong case that a stable non-accelerating inflation rate of unemployment (NAIRU), independent of macroeconomic policy, does not exist. Consequently, government decisions based on the NAIRU are not only misguided but have huge and avoidable social costs, namely, high unemployment and sustained inequality.