Carlaw, Kenneth; Lipsey, Richard - In: Journal of Evolutionary Economics 22 (2012) 4, pp. 735-766
process. Real data are then used to estimate time-varying NAIRU’s for six OECD countries. The estimates are shown to be highly … unemployment minus estimated NAIRU and the acceleration of inflation. Thus there is no tendency for inflation to behave as required …-run, negatively sloped Philips curve, a NAIRU, a unique general equilibrium, short and long-run, a vertical long-run Phillips curve …
