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In search of the NAIRU

Author

Listed:
  • David E. Altig
  • Paul Gomme

Abstract

The relationship between the unemployment rate and the nonaccelerating inflation rate of unemployment (NAIRU) is presumed to be an inflationary bellwether, but recent inflation predictions based on it have not been successful. The authors explore the reasons for this failure and suggest that it may be time to replace the NAIRU.

Suggested Citation

  • David E. Altig & Paul Gomme, 1998. "In search of the NAIRU," Economic Commentary, Federal Reserve Bank of Cleveland, issue May.
  • Handle: RePEc:fip:fedcec:y:1998:i:may1
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