Macroeconomics beyond the NAIRU

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Abstract:

The EconLit abstract of the reviewed work begins: Presents a critique of the nonaccelerating inflation rate of unemployment (NAIRU) theory and considers a new theoretical approach to growth, distribution, unemployment, and technological progress. Discusses the power of ideas; the weakness of the evidence; a growth model; the OECD Productivity Regime; OECD demand regimes; the generalization of the NAIRU theory; Europe's Nordic model; and macroeconomics beyond the NAIRU. Storm and Naastepad are Senior Lecturers in Economics at Delft University of Technology. Bibliography; index.

Document Type: Book Review

DOI: http://dx.doi.org/10.1257/jel.50.2.513.r6

Publication date: June 1, 2012

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