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The Natural rate of unemployment : reflections on 25 years of the hypothesis

Author: Rod Cross
Publisher: Cambridge [England] ; New York : Cambridge University Press, 1995.
Edition/Format:   Print book : EnglishView all editions and formats
Summary:
"The natural rate of unemployment hypothesis proposed in the 1960s has dominated thought about the causes of, and possible solutions to, unemployment. It asserts that only supply-side measures can achieve sustainable reductions in unemployment. In the 1980s, however, European unemployment rates rose sharply, despite supply-side innovations to economic policy inspired by the hypothesis. These essays reflect  Read more...
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Genre/Form: Aufsatzsammlung
Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Rod Cross
ISBN: 0521472989 9780521472982 0521483301 9780521483308
OCLC Number: 30510397
Description: xiv, 382 pages : illustrations ; 23 cm
Contents: Preface / Olivier Blanchard --
1. Introduction / Rod Cross --
2. The origins and further development of the natural rate of unemployment / Edmund Phelps --
3. The natural rate as new classical macroeconomics / James Tobin --
4. Theoretical reflections on the 'natural rate of unemployment' / Frank Hahn --
5. Of coconuts, decomposition, and a jackass: the genealogy of the natural rate / Huw Dixon --
6. The economics of adjustment / Andrew Caplin and John Leahy --
7. Hysteresis and memory in the labour market / G.C. Archibald --
8. Models of the range of equilibria / Ian McDonald --
9. Hysteresis revisited: a methodological approach / Bruno Amable, Jerome Henry, Frederic Lordon and Richard Topol --
10. Is the natural rate hypothesis consistent with hysteresis? / Rod Cross --
11. The natural rate hypothesis and its testable implications / Hashem Pesaran and Ron Smith --
12. Non-linear dependence in unemployment, output and inflation: empirical evidence for the UK / David Peel and Alan Speight --
13. Prices, wages and employment in the US economy: a traditional model and tests of some alternatives / Albert Ando and Flint Brayton --
14. The natural rate in empirical macroeconomic models / Simon Wren-Lewis --
15. Is the natural rate of unemployment a useful concept for Europe? / Maria Demertzis and Andrew Hughes Hallett --
16. The natural rate of unemployment: a fundamentalist Keynesian view / Meghnad Desai.
Responsibility: edited by Rod Cross.
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Abstract:

The important contemporary issue of unemployment is approached by an eminent list of contributors, in the light of the existing status of the natural rate hypothesis. They look forward to the  Read more...

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" The 17 essays in this volume discuss the theoretical foundations, dynamics, empirical status, and political economy of the natural rate hypothesis. They reflect the vigor with which we might Read more...

 
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