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The NAIRU as a Theory of Equilibrium Unemployment

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Author Info

  • Rod Cross

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.

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Bibliographic Info

Article provided by Emerald Group Publishing in its journal Journal of Economic Studies.

Volume (Year): 20 (1993)
Issue (Month): 1/2 (January)
Pages: 116-122

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Handle: RePEc:eme:jespps:v:20:y:1993:i:1/2:p:116-122

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Related research

Keywords: Economics; Labour market; Macroeconomics; Pay; Social economics; Unemployment;

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