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| Author: | Hatton, T. J. |
| Title: | Can productivity growth explain the NAIRU? Long-run evidence from Britain, 1871-1999 |
| Journal: | Economica
2007 : AUG, VOL. 74:295, p. 475-491 |
| Index terms: | inflation rates productivity unemployment United Kingdom |
| Language: | eng |
| Abstract: | This article explores the effects of productivity growth on the non-accelerating inflation rate of unemployment (NAIRU) over the long run. It uses historically consistent time series for the UK from 1871 to 1999. The findings indicate that faster productivity growth reduces the NAIRU, but that it goes only part of the way towards explaining wide swing in average unemployment across the decades. |
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