The NAIRU as a Theory of Equilibrium Unemployment
AbstractAssesses 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.
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Bibliographic InfoArticle provided by Emerald Group Publishing in its journal Journal of Economic Studies.
Volume (Year): 20 (1993)
Issue (Month): 1/2 (January)
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Web page: http://www.emeraldinsight.com
Postal: Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK
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- Beissinger, Thomas, 2003. "Strukturelle Arbeitslosigkeit in Europa: Eine Bestandsaufnahme," University of Regensburg Working Papers in Business, Economics and Management Information Systems 389, University of Regensburg, Department of Economics.
- Jaakko Pehkonen & Hector Sala & Pablo F. Salvador, 2011. "The Nordic experience revisited: labour market booms and slumps since the 1990s in Finland and Sweden," Journal of Economic Studies, Emerald Group Publishing, vol. 38(1), pages 52-65, January.
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