Macroeconomics Beyond the NAIRU
Book Details
Format
Hardback or Cased Book
ISBN-10
0674062272
ISBN-13
9780674062276
Publisher
Harvard University Press
Imprint
Harvard University Press
Country of Manufacture
US
Country of Publication
GB
Publication Date
Jan 2nd, 2012
Print length
304 Pages
Weight
564 grams
Dimensions
23.60 x 16.30 x 2.40 cms
Product Classification:
Economic theory & philosophyMacroeconomicsLabour economicsPolitical economy
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The authors make a strong case that a stable non-accelerating inflation rate of unemployment (NAIRU), independent of macroeconomic policy, does not exist. Consequently, government decisions based on the NAIRU are not only misguided but have huge and avoidable social costs, namely, high unemployment and sustained inequality.
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