Federal Reserve Bank of Cleveland
In search of the NAIRU
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.
Cite this item
David E. Altig & Paul Gomme, "In search of the NAIRU"
, Federal Reserve Bank of Cleveland, Economic Commentary, issue May, 1998.
Keywords: Inflation (Finance) ; Unemployment ; Productivity
This item with handle RePEc:fip:fedcec:y:1998:i:may1
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