Download or read book MACROECONOMICS BEYOND THE NAIRU written by Servaas Storm and published by Harvard University Press. This book was released on 2012-01-02 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors make a strong case that a stable non-accelerating inflation rate of unemployment (NAIRU), independent of macroeconomic policy, does not exist. Consequently, government decisions based on the NAIRU are not only misguided but have huge and avoidable social costs, namely, high unemployment and sustained inequality.