| Estimated Inflation Costs Had European Unemployment Been Reduced in the 1980s by Macro Policies (2007) | |||||||||||||
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| This paper uses a multicountry econometric model to estimate what the inflation costs would have been had German monetary policy reduced European unemployment in the 1982:1–1990:4 period. A “non-NAIRU ” framework is proposed for thinking about these costs. 1 | |||||||||||||
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