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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Place / Publishing House: | Cambridge, MA : : Harvard University Press, , [2012] ©2011 |
Year of Publication: | 2012 |
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Physical Description: | 1 online resource (304 p.) :; 27 graphs, 27 tables |
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Storm, Servaas, author. aut http://id.loc.gov/vocabulary/relators/aut Macroeconomics Beyond the NAIRU / Servaas Storm, C. W. M Naastepad. Cambridge, MA : Harvard University Press, [2012] ©2011 1 online resource (304 p.) : 27 graphs, 27 tables text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda 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 restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star 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. Issued also in print. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 30. Aug 2021) BUSINESS & ECONOMICS / Economics / Macroeconomics. bisacsh Naastepad, C. W. M, author. aut http://id.loc.gov/vocabulary/relators/aut Title is part of eBook package: De Gruyter E-BOOK GESAMTPAKET / COMPLETE PACKAGE 2012 9783110288995 ZDB-23-DGG Title is part of eBook package: De Gruyter E-BOOK PACKAGE LAW 2012 9783110293814 Title is part of eBook package: De Gruyter E-BOOK PAKET RECHTSWISSENSCHAFTEN 2012 9783110288919 ZDB-23-DGC Title is part of eBook package: De Gruyter HUP eBook-Package Backlist 2000-2013 (Canada) 9783110756067 Title is part of eBook package: De Gruyter Harvard University Press eBook Package Backlist 2000-2013 9783110442205 print 9780674062276 https://doi.org/10.4159/harvard.9780674063242 https://www.degruyter.com/isbn/9780674063242 Cover https://www.degruyter.com/cover/covers/9780674063242.jpg |
language |
English |
format |
eBook |
author |
Storm, Servaas, Storm, Servaas, Naastepad, C. W. M, |
spellingShingle |
Storm, Servaas, Storm, Servaas, Naastepad, C. W. M, Macroeconomics Beyond the NAIRU / 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 |
author_facet |
Storm, Servaas, Storm, Servaas, Naastepad, C. W. M, Naastepad, C. W. M, Naastepad, C. W. M, |
author_variant |
s s ss s s ss c w m n cwm cwmn |
author_role |
VerfasserIn VerfasserIn VerfasserIn |
author2 |
Naastepad, C. W. M, Naastepad, C. W. M, |
author2_variant |
c w m n cwm cwmn |
author2_role |
VerfasserIn VerfasserIn |
author_sort |
Storm, Servaas, |
title |
Macroeconomics Beyond the NAIRU / |
title_full |
Macroeconomics Beyond the NAIRU / Servaas Storm, C. W. M Naastepad. |
title_fullStr |
Macroeconomics Beyond the NAIRU / Servaas Storm, C. W. M Naastepad. |
title_full_unstemmed |
Macroeconomics Beyond the NAIRU / Servaas Storm, C. W. M Naastepad. |
title_auth |
Macroeconomics Beyond the NAIRU / |
title_alt |
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 |
title_new |
Macroeconomics Beyond the NAIRU / |
title_sort |
macroeconomics beyond the nairu / |
publisher |
Harvard University Press, |
publishDate |
2012 |
physical |
1 online resource (304 p.) : 27 graphs, 27 tables Issued also in print. |
contents |
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 |
isbn |
9780674063242 9783110288995 9783110293814 9783110288919 9783110756067 9783110442205 9780674062276 |
url |
https://doi.org/10.4159/harvard.9780674063242 https://www.degruyter.com/isbn/9780674063242 https://www.degruyter.com/cover/covers/9780674063242.jpg |
illustrated |
Not Illustrated |
dewey-hundreds |
300 - Social sciences |
dewey-tens |
330 - Economics |
dewey-ones |
339 - Macroeconomics & related topics |
dewey-full |
339 |
dewey-sort |
3339 |
dewey-raw |
339 |
dewey-search |
339 |
doi_str_mv |
10.4159/harvard.9780674063242 |
oclc_num |
773264491 |
work_keys_str_mv |
AT stormservaas macroeconomicsbeyondthenairu AT naastepadcwm macroeconomicsbeyondthenairu |
status_str |
n |
ids_txt_mv |
(DE-B1597)178129 (OCoLC)773264491 |
carrierType_str_mv |
cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter E-BOOK GESAMTPAKET / COMPLETE PACKAGE 2012 Title is part of eBook package: De Gruyter E-BOOK PACKAGE LAW 2012 Title is part of eBook package: De Gruyter E-BOOK PAKET RECHTSWISSENSCHAFTEN 2012 Title is part of eBook package: De Gruyter HUP eBook-Package Backlist 2000-2013 (Canada) Title is part of eBook package: De Gruyter Harvard University Press eBook Package Backlist 2000-2013 |
is_hierarchy_title |
Macroeconomics Beyond the NAIRU / |
container_title |
Title is part of eBook package: De Gruyter E-BOOK GESAMTPAKET / COMPLETE PACKAGE 2012 |
author2_original_writing_str_mv |
noLinkedField noLinkedField |
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1806143176333852672 |
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