The non-accelerating-inflation-rate-of-unemployment (NAIRU) - A Post-Keynesian interpretation;Die NAIRU – eine post-keynesianische interpretation

European Journal of Economics and Economic Policies: Intervention

Volumn 1, Issue 1, 2004, Pages 43-66

  Hein, Eckhard ^a  

^a HANS BÖCKLER FOUNDATION   (Germany)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 12144278456     PISSN: 20527764     EISSN: 20527772     Source Type: Journal    
DOI: 10.4337/ejeep.2004.01.07     Document Type: Article

References (46)

1. Arestis, P. (1996): Post Keynesian economics: Towards coherence, in: Cambridge Journal of Economics, Vol. 20, S. 111–135
2. Arestis, P., Sawyer, M. (2003): »New consensus«, New Keynesianism and the economics of the »third way«, in: Hein, E., Heise, A., Truger, A. (Hg.), Neu-Keynesianismus — der neue wirtschaftspolitische Mainstream?, Marburg, S. 227–244
3. Argitis, G., Pitelis, C. (2001): Monetary policy and distribution of income: Evidence for the United States and the United Kingdom, in: Journal of Post Keynesian Economics, Vol. 23, S. 617–638
4. Ball, L., Mankiw, N.G. (2002): The NAIRU in theory and practice, in: Journal of Economic Perspectives, Vol. 16(4), S. 115–136
5. Bhaduri, A., Marglin, S. (1990): Unemployment and the real wage: The economic basis for contesting political ideologies, in: Cambridge Journal of Economics, Vol. 14, S. 375–393
6. Bibow, J. (2002): The monetary policies of the European Central Bank and the Euro’s (mal)-performance: a stability-oriented assessment, in: International Review of Applied Economics, Vol. 16, S. 31–50
7. Bibow, J. (2002a): The market versus the ECB, and the euro’s plunge, in: Eastern Economic Journal, Vol. 28, S. 45–57
8. Blanchard, O., Katz, L.F. (1997): What we know and do not know about the natural rate of unemployment, in: Journal of Economic Perspectives, Vol. 11 (1), S. 51–72
9. Calmfors, L. (1993): Centralisation of wage bargaining and macroeconomic performance — a survey, in: OECD Economic Studies, No. 21, S. 161–191
10. Calmfors, L., Driffill, J. (1988): Centralization of wage bargaining, in: Economic Policy, Vol. 3, S. 13–61
11. Carlin, W., Soskice, D. (1990): Macroeconomics and the Wage Bargain. A Modern Approach to Employment, Inflation and the Exchange Rate, Oxford: Oxford University Press
12. Clarida, R., Gali, J., Gertler, M. (1999): The science of monetary policy: A New Keynesian perspective, in: Journal of Economic Literature, Vol. 37, S. 1661–1707
13. Fisher, I. (1933): The debt-deflation theory of great depressions, in: Econometrica, Vol. 1, S. 337–357
14. Flanagan, R.J. (1999): Macroeconomic performance and collective bargaining: An international perspective, in: Journal of Economic Literature, Vol. 37, S. 1150–1175
15. Franz, W. (2001): Neues von der NAIRU?, in: Jahrbiicher fur Nationalokonomie und Statistik, Vol. 221, S. 256–284
16. Franzese, R.J. (2001): Institutions and sectoral interactions in monetary policy and wage/price-bargaining, in: Hall, P.A., Soskice, D. (Hg.), Varieties of Capitalism. Institutional Foundations of Comparative Advantage, Oxford: Oxford University Press, S. 104–144
17. Franzese, R.J. (2001a): Strategic interaction of monetary policymakers and wage/price bargainers: A review with implications for the European common-currency area, in: Empirica, Vol. 28, S. 457–486
18. Galbraith, J.K. (1997): Time to ditch the NAIRU, in: Journal of Economic Perspectives, Vol. 11 (1), S. 93–108
19. Gordon, R.J. (1997): The time-varying NAIRU and its implications for economic policy, in: Journal of Economic Perspectives, Vol. 11 (1), S. 11–32
20. Hall, P.A., Franzese, R.J. (1998): Mixed signals: Central bank independence, coordinated wage bargaining, and European Monetary Union, in: International Organization, Vol. 52, S. 505–535
21. Hein, E. (1999): Interest rates, income shares and investment in a Kaleckian model, in: Political Economy. Review of Political Economy and Social Sciences, Issue 5, S. 5–22
22. Hein, E. (2002): Monetary policy and wage bargaining in the EMU: Restrictive ECB policies, high unemployment, nominal wage restraint and inflation above the target, in: Banca Nazionale del Lavoro Quarterly Review, Vol. 55, S. 299–337
23. Hein, E. (2003): Reale und monetare Analyse: Post-Keynesianismus und Neu-Keynesianis-mus im Vergleich, in: Hein, E., Heise, A., Truger, A. (Hg.), Neu-Keynesianismus — der neue wirtschaftspolitische Mainstream?, Marburg, S. 135–176
24. Hein, E., Ochsen, C. (2003): Regimes of interest rates, income shares, savings, and investment: A Kaleckian model and empirical estimations for some advanced OECD-economies, in: Metroeconomica, Vol. 54, S. 404–433
25. Heine, M., Herr, H. (2003): Der Neu-Keynesianismus als neues makrookonomisches Kon-sensmodell: Eine kritische Wurdigung, in: Hein, E., Heise, A., Truger, A. (Hg.), Neu-Keynesianismus — der neue wirtschaftspolitische Mainstream?, Marburg, S. 21–53
26. Hewitson, G. (1995): Post-Keynesian monetary theory: Some issues, in: Journal of Economic Surveys, Vol. 9, S. 285–310
27. Jerger, J. (2003): NAIRU - Theorie, Empirie und Politik, in: Hein, E., Heise, A., Truger, A. (Hg.), Neu-Keynesianismus — der neue wirtschaftspolitische Mainstream?, Marburg, S. 55–84
28. Kalecki, M. (1943): Political aspects of full employment, in: Kalecki, M., Selected Essays on the Dynamics of the Capitalist Economy, Cambridge: University Press, 1971, S. 138–145
29. Kittel, B., Traxler, F. (2001): Lohnverhandlungssysteme und Geldpolitik, in: Wirtschaft und Gesellschaft, Vol. 27, S. 11–40
30. Lavoie, M. (1992): Foundations of Post-Keynesian Economic Analysis, Aldershot: Edward Elgar
31. Lavoie, M. (1996): Horizontalism, structuralism, liquidity preference and the principle of increasing risk, in: Scottish Journal of Political Economy, Vol. 43, S. 275–300
32. Layard, R., Nickell, S., Jackman, R. (1991): Unemployment. Macroeconomic Performance and the Labour Market, Oxford: Oxford University Press
33. Mankiw, N.G. (2001): The inexorable and mysterious tradeoff between inflation and unemployment, in: The Economic Journal, Vol. 111, S. C45–C61
34. Marx, K. (1867): Das Kapital. Kritik der politischen Okonomie, Erster Band: Der Produk-tionsprozefi des Kapitals, Marx-Engels-Werke, Band 23, Berlin 1962
35. Meyer, L.H. (2001): Does money matter?, in: Federal Reserve Bank of St. Louis Review, Vol. 83 (5), S. 1–15
36. Moore, B.J. (1989): The endogeneity of credit money, in: Review of Political Economy, Vol. 1, S. 65–93
37. OECD (1997): Economic performance and the structure of collective bargaining, in: Employment Outlook, July 1997, Paris, S. 63–92
38. Rowthorn, R.E. (1977): Conflict, inflation and money, in: Cambridge Journal of Economics, Vol. 1, S. 215–239
39. Sawyer, M. (2001): The NAIRU: A critical appraisal, in: Arestis, P., Sawyer, M. (Hg.), Money, Finance and Capitalist Development, Cheltenham: Edward Elgar, S. 220–254
40. Sawyer, M. (2002): The NAIRU, aggregate demand and investment, in: Metroeconomica, Vol. 53, S. 66–94
41. Smithin, J. (1994): Controversies in Monetary Economics. Ideas, Issues and Policy, Alder-shot: Edward Elgar
42. Snowdon, B., Vane, H., Wynarczyk, P. (1994): A Modern Guide to Macroeconomics. An Introduction to Competing Schools of Tought, Cheltenham: Edward Elgar
43. Soskice, D. (1990): Wage determination: The changing role of institutions in advanced industrialized countries, in: Oxford Review of Economic Policy, Vol. 4, S. 36–61
44. Staiger, D., Stock, J.H., Watson, M.W. (1997): The NAIRU, unemployment and monetary policy, in: Journal of Economic Perspectives, Vol. 1 (1), S. 33–49
45. Stiglitz, J. (1997): Reflections on the natural rate hypothesis, in: Journal of Economic Perspectives, Vol. 11, S. 3–10
46. Traxler, F. (1999): Wage-setting institutions and European Monetary Union, in: Huemer, G., Mesch, M., Traxler, F. (Hg.), Te Role of Employer Associations and Labour Unions in the EMU, Aldershot: Ashgate, S. 115–135