Document Type
Discussion Paper
Publication Date
8-1-1996
CFDP Number
1129
CFDP Pages
20
Abstract
This paper uses a multicountry econometric model to estimate what the inflation costs would have been if macropolicies had reduced European unemployment in the 1982:1-1990:4 period. A “non-NAIRU” framework is proposed for thinking about these costs.
Recommended Citation
Fair, Ray C., "Estimated Inflation Costs Had European Unemployment Been Reduced in the 1980s by Macro Prices" (1996). Cowles Foundation Discussion Papers. 1375.
https://elischolar.library.yale.edu/cowles-discussion-paper-series/1375