Macroeconomics Beyond the NAIRU / / Servaas Storm, C. W. M Naastepad.
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 go...
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Superior document: | Title is part of eBook package: De Gruyter E-BOOK GESAMTPAKET / COMPLETE PACKAGE 2012 |
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Place / Publishing House: | Cambridge, MA : : Harvard University Press, , [2012] ©2011 |
Year of Publication: | 2012 |
Language: | English |
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Physical Description: | 1 online resource (304 p.) :; 27 graphs, 27 tables |
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100 | 1 | |a Storm, Servaas, |e author. |4 aut |4 http://id.loc.gov/vocabulary/relators/aut | |
245 | 1 | 0 | |a Macroeconomics Beyond the NAIRU / |c Servaas Storm, C. W. M Naastepad. |
264 | 1 | |a Cambridge, MA : |b Harvard University Press, |c [2012] | |
264 | 4 | |c ©2011 | |
300 | |a 1 online resource (304 p.) : |b 27 graphs, 27 tables | ||
336 | |a text |b txt |2 rdacontent | ||
337 | |a computer |b c |2 rdamedia | ||
338 | |a online resource |b cr |2 rdacarrier | ||
347 | |a text file |b PDF |2 rda | ||
505 | 0 | 0 | |t Frontmatter -- |t Contents -- |t Preface -- |t 1 The Power of Ideas -- |t 2 The Weakness of the Evidence -- |t 3 A Growth Model -- |t 4 The OECD Productivity Regime -- |t 5 OECD Demand Regimes -- |t 6 The Generalization of the NAIRU Theory -- |t 7 Europe's Nordic Model -- |t 8 Macroeconomics Beyond the NAIRU -- |t Appendix: Data Sources -- |t Notes -- |t Bibliography -- |t Index |
506 | 0 | |a restricted access |u http://purl.org/coar/access_right/c_16ec |f online access with authorization |2 star | |
520 | |a 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. | ||
530 | |a Issued also in print. | ||
538 | |a Mode of access: Internet via World Wide Web. | ||
546 | |a In English. | ||
588 | 0 | |a Description based on online resource; title from PDF title page (publisher's Web site, viewed 30. Aug 2021) | |
650 | 7 | |a BUSINESS & ECONOMICS / Economics / Macroeconomics. |2 bisacsh | |
700 | 1 | |a Naastepad, C. W. M, |e author. |4 aut |4 http://id.loc.gov/vocabulary/relators/aut | |
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