Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Author: Joost Verlinden
Publisher:
ISBN:
Category : Belgium
Languages : en
Pages : 24

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The use of the NAIRU-concept is not very widespread in Belgium. This may be partly due to an observed unemployment rate that is probably significantly higher than the NAIRU for most of the past two decades. Government policy to halve the administrative notion of unemployment by the beginning of the next century has therefore little regard for the NAIRU level. A second reason for the low popularity of the NAIRU resides in the fact that the measurement issues are seen as enormous. Confidence intervals for NAIRU estimates are notably high. From partial information on the last economic cycle in 1987-94, the deduction is nevertheless that the NAIRU would be in the 7-8 per cent range. Instead of finding exact estimates for the NAIRU, the paper looks into the wage formation process in Belgium in the long and short run. Although total factor productivity is the main long-term influence of real wages, in the short term labour market pressure is clearly the main determining factor. It is ...

Author: Organización de Cooperación y Desarrollo Económico
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 24

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Author: Peter McAdam
Publisher:
ISBN:
Category : European Economic Community countries
Languages : en
Pages : 56

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Author: Chris Mellis
Publisher:
ISBN:
Category :
Languages : en
Pages : 43

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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 43

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Author:
Publisher: OECD
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 43

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Author: Chris Mellis
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 50

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Author: Chris Melliss
Publisher:
ISBN:
Category : Unemployment
Languages : en
Pages : 0

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NAIRU (Taux de chômage non accélérateur de l'inflation).

Author: Chris Melliss
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 43

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The behaviour of unemployment in the UK is of particular interest in the light of the far reaching programme of reforms introduced since 1980. The paper first outlines the main theoretical ideas behind the concept of equilibrium unemployment, drawing a distinction between the factors which may cause transitory, albeit long lived, departures from the short run NAIRU, and those which influence the long run NAIRU. Both are unobservable. The last decade and a half has seen substantial changes to the institutional structure of the UK labour market, such as the decline in the strength of trade unions, and the introduction of government policies to increase labour market flexibility. The impact of these on the NAIRU is assessed. Estimates of the NAIRU are discussed. The general picture is that, whether a reduced form fundamental supply equation or structural approach is adopted, the UK's NAIRU reached a peak in the mid 1980s and has subsequently fallen, more in the case of the long run ...