This note gives a brief survey of main theoretical and empirical issues with respect to the NAIRU concept. According to modern labour market literature NAIRU is defined as the rate of unemployment at which inflation stabilises in the absence of any wage-price surprises. Conventional thinking...

This paper deals with trends and cycles of unemployment and labour-force participation. Empirical evidence on both trends and cyclical movements in unemployment and participation is presented. Some of the mechanisms behind the observed developments are also analysed, examining how well they fit...

This note gives a brief survey of main theoretical and empirical issues with respect to the NAIRU concept. According to modern labour market literature NAIRU is defined as the rate of unemployment at which inflation stabilises in the absence of any wage-price surprises. Conventional thinking...

This paper deals with trends and cycles of unemployment and labour-force participation. Empirical evidence on both trends and cyclical movements in unemployment and participation is presented. Some of the mechanisms behind the observed developments are also analysed, examining how well they fit...