Macroeconomics Beyond the NAIRU / Servaas Storm, C. W. M Naastepad.
Storm, Servaas, author.; Naastepad, C. W. M, author.
2012
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Title Macroeconomics Beyond the NAIRU / Servaas Storm, C. W. M Naastepad.
Author Storm, Servaas, author.
ISBN 9780674063242
DOI https://doi.org/10.4159/harvard.9780674063242
Published Cambridge, MA : Harvard University Press, [2012]
Copyright ©2011
Language English
Language Note In English.
Description 1 online resource (304 p.) : 27 graphs, 27 tables
Other Standard Identifiers 10.4159/harvard.9780674063242 doi
Dewey Decimal Classification 339
Summary Economists and the governments they advise have based their macroeconomic policies on the idea of a natural rate of unemployment. Government policy that pushes the rate below this point-about 6 percent-is apt to trigger an accelerating rate of inflation that is hard to reverse, or so the argument goes. In this book, Storm and Naastepad make a strong case that this concept is flawed: 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.Skillfully merging theoretical and empirical analysis, Storm and Naastepad show how the NAIRU's neglect of labor's impact on technological change and productivity growth eclipses the many positive contributions that labor and its regulation make to economic performance. When these positive effects are taken into account, the authors contend, a more humane policy becomes feasible, one that would enhance productivity and technological progress while maintaining profits, thus creating conditions for low unemployment and wider equality.
Access Note Access limited to authorized users.
System Details Note Mode of access: Internet via World Wide Web.
Digital File Characteristics text file PDF
Source of Description Description based on online resource; title from PDF title page (publisher's Web site, viewed 30. Aug 2021)
Added Author Naastepad, C. W. M, author.
In E-BOOK GESAMTPAKET / COMPLETE PACKAGE 2012
E-BOOK PACKAGE LAW 2012
E-BOOK PAKET RECHTSWISSENSCHAFTEN 2012
HUP eBook-Package Backlist 2000-2013 (Canada)
Harvard University Press eBook Package Backlist 2000-2013
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Frontmatter
Contents
Preface
1 The Power of Ideas
2 The Weakness of the Evidence
3 A Growth Model
4 The OECD Productivity Regime
5 OECD Demand Regimes
6 The Generalization of the NAIRU Theory
7 Europe's Nordic Model
8 Macroeconomics Beyond the NAIRU
Appendix: Data Sources
Notes
Bibliography
Index

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