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. - MCB UP Ltd, ISSN 1758-7387, ZDB-ID 1480042-1. - Vol. 20.1993, 1/2
Publisher:	MCB UP Ltd
Subject:	Economics \| Labour market \| Macroeconomics \| Social economics \| Unemployment \| Pay

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Type of publication:	Article
Type of publication (narrower categories):	research-article
Language:	English
Other identifiers:	10.1108/EUM0000000000168 [DOI]
Source:	Other ZBW resources

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