Ball, Laurence M. (contributor); … - 2002 - [Elektronische Ressource]
for the nonaccelerating inflation rate of
unemployment. It is beyond dispute that this acronym is an ugly
addition to the … demand more generally, push
inflation and unemployment in opposite directions in the short run.
Once this short-run tradeoff … is admitted, there must be some level
of unemployment consistent with stable inflation.
The second issue is why the NAIRU …