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Testing the NAIRU Model for the United States

Ray C. Fair1,2

1 Cowles Foundation, Yale University · 2 Cowles Foundation, Yale University#TAB#

The Review of Economics and Statistics 2000

This paper tests, using U.S. data, the dynamics implied by the NAIRU view of the relationship between inflation and the unemployment rate. The results are somewhat sensitive to the measure of inflation used, but they generally reject the dynamics. An alternative way of thinking about the relationship between inflation and the unemployment rate is suggested.

DOI
10.1162/003465300558632
Volume
82 (1)
Pages
64-71
Language
en
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