In monetarist economics, particularly the work of Milton Friedman, NAIRU is an acronym for non-accelerating inflation rate of unemployment, and refers to a level of unemployment below which inflation rises. It is widely used in mainstream economics. It was also introduced as NIRU (non-inflationary rate of unemployment) in Modigliani – Papademos (1975).
Read more about NAIRU: Origins, The Natural Rate Hypothesis and The NAIRU, Properties, Criticism, Relationship To Other Economic Theories
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