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Bruegel: Mind the gap! And the way structural budget balances are calculated By Zsolt Darvas on 12th October 2013
Labour: after identifying labour supply, a measure of `equilibrium' unemployment rate, the so-called NAWRU (non-accelerating wage rate of unemployment), is used to estimate the sustainable level of employment. NAWRU is estimated with a statistical technique;
Gone is NAIRU (non-accelerating inflation rate of unemployment).

In the Neurozone, there can be only one.
by Migeru (migeru at eurotrib dot com) on Tue Oct 15th, 2013 at 03:59:10 PM EST
If the statistics begin to embarrass you, change the methodology

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Tue Oct 15th, 2013 at 04:58:32 PM EST
[ Parent ]
But this is actually more embarrasing (if people understand it).

NAIRU is the level of unemployment necessary to prevent inflation. NAWRU is the level of unemployment necessary to prevent wage increases. Of course that is largely how NAIRU has been treated anyway, this just cuts down one step of obfuscation and spells it right out: the unemployment is there intentionally to prevent those employed daring to ask for a raise.

Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se

by A swedish kind of death on Tue Oct 15th, 2013 at 05:13:12 PM EST
[ Parent ]
Precisely. The mask is off.

In the Neurozone, there can be only one.
by Migeru (migeru at eurotrib dot com) on Wed Oct 16th, 2013 at 09:23:57 AM EST
[ Parent ]
correct link

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Wed Oct 30th, 2013 at 11:24:02 AM EST
[ Parent ]

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