Natural rate of unemployment or NAIRU

from Economics Explored · host Gene Tunny

Economics Explored host Gene Tunny discusses the natural rate of unemployment and the non-accelerating inflation rate of unemployment, the NAIRU. He considers whether they're the same thing, why they are important, and what affects them. Links relevant to the episode include:Milton Friedman's 1967-68 AEA Presidential Address on the role of monetary policyKansas City Fed paper on a new estimate of the natural rate of unemploymentRBA paper on Estimating the NAIRU and the Unemployment GapBrookings post on What is u*?Carl E. Walsh on The Natural Rate, NAIRU, and Monetary Policy

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The natural rate of unemployment and the NAIRU - are they the same? Why are they important? What affects them?

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Natural rate of unemployment or NAIRU

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This episode was published on October 30, 2020.

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