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Original Articles

Unemployment hysteresis and the NAIRU: a ratchet model

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Pages 359-362 | Published online: 06 Oct 2010

References

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  • Pesaran , H. and Smith , R. 1995 . “ The natural rate hypothesis and its testable implications ” . In The Natural Rate of Unemployment: Reflections on 25 Years of the Hypothesis , Edited by: Cross , R. Cambridge : Cambridge University Press .
  • Phelps , E. S. 1967 . Phillips curves, expectations of inflation and optimal unemployment over time . Economica , 34 : 254 – 281 .

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