- Additional Authors
- Description
- 76 p.; 21 x 29.7cm.
- Summary
- The structural rate of unemployment and associated non-accelerating inflation rate of unemployment (the NAIRU) are of major importance to the analysis of macro and structural economic developments, although in practice these concepts are not well defined and there is considerable uncertainty and controversy concerning their measurement and policy use. The present paper reviews a range of conceptual and analytical issues and related empirical studies to examine the usefulness and limitations of such concepts. A reduced-form Phillips curve approach is found the most suitable conceptual framework for representing the NAIRU as currently used by the OECD in its policy analysis and surveillance work. Three distinct classes of NAIRU concept are identified, distinguished by the time-frame in which they are defined, which map directly into the broad requirements for macro and structural policy analysis. In line with a number of recent empirical studies, this general approach is applied ...
- Series Statement
- OECD Economics Department Working Papers, 1815-1973 ; no.250
- Uniform Title
- OECD Economics Department Working Papers, no.250.
- Subject
- Economics
- LCCN
- 10.1787/785730283515
- OCLC
- oecd-lib-003615
- Title
The Concept, Policy Use and Measurement of Structural Unemployment [electronic resource]: Estimating a Time Varying NAIRU Across 21 OECD Countries / Pete Richardson ... [et al]
- Imprint
Paris : OECD Publishing, 2000.
- Series
OECD Economics Department Working Papers, 1815-1973 ; no.250
OECD Economics Department Working Papers, 1815-1973 ; no.250.
- Connect to:
- Indexed Term
Economics
- Added Author
Richardson, Pete.
Boone, Laurence.
Giorno, Claude.
Meacci, Mara.
Rae, David.
Turner, David.
- Other Standard Identifier
10.1787/785730283515 doi