Macroeconomics beyond the NAIRU by Servaas Storm and C. W. M. Naastepad
Published By: Cambridge and London: Harvard University Press ISBN: 978-0-674-06227-6 Date of Publication: 2012
Book Review Detail
Carolin Pflueger of Harvard University
Review DOI: 10.1257/jel.50.2.513.r6 Review Pages: 523-24
Book Review Abstract
Carolin Pflueger of Harvard University reviews "Macroeconomics beyond the NAIRU" by Servaas Storm and C. W. M. Naastepad. The EconLit abstract of the reviewed work begins: Presents a critique of the nonaccelerating inflation rate of unemployment (NAIRU) theory and considers a new theoretical approach to growth, distribution, unemployment, and technological progress. Discusses the power of ideas; the weakness of the evidence; a growth model; the OECD Productivity Regime; OECD demand regimes; the generalization of the NAIRU theory; Europe's Nordic model; and macroeconomics beyond the NAIRU. Storm and Naastepad are Senior Lecturers in Economics at Delft University of Technology. Bibliography; index.