The NAIRU, Unemployment and Monetary Policy
نویسندگان
چکیده
Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use.
منابع مشابه
Wage bargaining and monetary policy in a Kaleckian monetary distribution and growth model : trying to make sense of the NAIRU
In a Kaleckian monetary distribution and growth model with conflict inflation we assess the role of a Non Accelerating Inflation Rate of Unemployment (NAIRU). The short run stability of a NAIRU is examined taking into account real debt effects of accelerating and decelerating inflation, and the short run effectiveness of monetary policy interventions applying the interest rate tool is analysed....
متن کاملInstitutions and Macroeconomic Performance: Central Bank Independence, Labour Market Institutions and the Perspectives for Inflation and Employment in the European Monetary Union
Starting from a Post-Keynesian model in which employment is determined by effective demand and the NAIRU is viewed as a limit to employment, enforced by monetary policy reacting upon conflict inflation, the effects of central bank independence and labour market institutions on macroeconomic performance are considered and the perspectives for employment and inflation in the European Monetary Uni...
متن کاملV. Revised Oecd Measures of Structural Unemployment
The NAIRU is the rate of unemployment consistent with stable inflation... An important challenge in setting economic policy is to identify the rate of capacity utilisation that is sustainable, in the sense that it is associated with reasonably stable inflation. There are different ways of measuring capacity utilisation. Looking at perhaps the most common measure, unemployment, this idea of sust...
متن کاملHave New Human Resource Management Practices Lowered the Sustainable Unemployment Rate?
and conference participants for their helpful comments. We thank Daniel Puskin and Yi Quan for dedicated research assistance and the Russell-Sage, Century and National Science Foundations (grant SBR-970925) for generous research support. Posen's work on this paper is part of IIE's project on " Globalization, the NAIRU, and Monetary Policy. " The views expressed here, and any remaining errors, a...
متن کاملThe Effect of Central Bank’s Monetary Policy on Unemployment and Inflation in Provinces of Iran: A GVAR Approach
The national economy of most countries is made up of various regions (provinces) with different industrial composition, financial structure, trade relations, and institutional environment. Depending on these characteristics, regions may respond differently to a uniform national macroeconomic policy. Policymakers should consider these heterogeneities to achieve the national development objective...
متن کامل