Construct · 1 fields · 1 citations

natural rate of unemployment: a standalone construct

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Macroeconomics

the unemployment rate consistent with real wage and labor market conditions, below which policy can hold unemployment only by accelerating inflation.

In macroeconomics, natural rate of unemployment refers to the unemployment rate consistent with real wage and labor market conditions, below which policy can hold unemployment only by accelerating inflation. This meaning comes from Friedman (1968/1997) in A Macroeconomics Reader.[1]

Unit
Recovery means
Measured by

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Nearby constructs

natural3 fields · 7 citationsjingle · one word, three constructs inflation3 fields · 4 citationsjingle · one word, three constructs labor4 fields · 4 citationsjingle · one word, four constructs

References

Friedman, M. (1997). The role of monetary policy. In A Macroeconomics Reader. Routledge. (Original work published 1968) https://doi.org/10.4324/9780203443965.ch7

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