The Natural Rate of Unemployment: Reflections on 25 Years of the Hypothesis - Softcover

Softcover

ISBN 10: 0521483301 ISBN 13: 9780521483308

Verlag: Cambridge University Press, 1995

Inhaltsangabe

A challenge to the conventional theory of the natural rate of unemployment hypothesis.

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For 25 years, theory about the causes of, and possible solutions to, the problem of unemployment has been dominated by Phelps and Friedman's natural rate of unemployment hypothesis. This postulates that the equilibrium rate of unemployment consistent with steady inflation is determined by structural variables: sustainable reductions in unemployment can be achieved only by measures to change underlying microeconomic structures, such as benefit and pay bargaining systems. Belief in the hypothesis has faltered since the 1980s, the hypothesis being unable to explain the dramatic upward shifts in European unemployment rates. These essays reflect upon the fundamental structures underlying the hypothesis, assess the related evidence, and look forward, suggesting possible modifications. In contrast to the single rate postulated by the natural rate hypothesis, several of the contributors propose that there are ranges of unemployment rates consistent with steady inflation.

Details zur Ausgabe

• Verlag: Cambridge University Press
• Erscheinungsdatum: 1995
• Sprache: Englisch
• ISBN 10: 0521483301
• ISBN 13: 9780521483308
• Einband: Taschenbuch
• Anzahl der Seiten: 400
• Herausgeber: Cross Rod
• Kontakt zum Hersteller: Nicht verfügbar
• Verantwortliche Person: gpsr@libri.de; gpsr@libri.de; ; Friedensallee 273; Hamburg; 22763; Deutschland