单词 |
non-accelerating inflation rate of unemployment |
释义 |
DictionarySeenairuNon-Accelerating Inflation Rate of Unemployment
Non-Accelerating Inflation Rate of UnemploymentAlso called NAIRU. The unemployment rate in an economy below which inflation will begin to rise. The idea behind NAIRU states that a certain unemployment rate is built in to an economy. If unemployment falls too far, the economy will begin to overheat and inflation will rise. This analysis is highly controversial; some economists hold full employment is possible without these negative side effects. Milton Friedman was a major proponent of the NAIRU idea. See also: Phillips curve. |
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