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Macroeconomics Beyond the NAIRU
by Servaas Storm and C. W. M Naastepad
Harvard University Press, 2011
eISBN: 978-0-674-06324-2 | Cloth: 978-0-674-06227-6
Library of Congress Classification HD5706.S816 2011
Dewey Decimal Classification 339

ABOUT THIS BOOK | TOC
ABOUT THIS BOOK
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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