Ball, Laurence M. (contributor); … - 2001 - [Elektronische Ressource]
. INTRODUCTION
The "New Economy" in the U.S. since the mid-1990s has
featured surprisingly benign behavior of inflation and …
unemployment. Before this experience, most estimates of the
NAIRU -- the non-accelerating inflation rate of unemployment --
were …
inflation has not risen substantially. This paper presents an
explanation for the apparent improvement in the unemployment …