Abstract
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.
Subject
General Economics, Econometrics and Finance
Cited by
4 articles.
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