British Unemployment and Monetary Policy
15 Pages Posted: 2 Aug 2005
In this speech, Sushil B. Wadhwani, member of the Bank's Monetary Policy Committee, argues that the NAIRU has fallen significantly over the last decade. However, the evidence suggests that the NAIRU today is probably higher than it was in the 1960s, but is likely to be heading lower because of factors like the Internet.
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