social science production (was: Dark Sides of 'Solidarity'?)

[Brad De Long]

>Brad,
>     Well, that may be why Meyer is taking the position
>that he is.  But, is it not the case that there is now a
>rather large literature out there that suggests that the
>NAIRU, if it exists, is not exogenous, and may get lowered
>as the rate of unemployment gets lowered due to resulting
>changes in the labor market (more experience by new
>workers, etc.)?

Yup--and that persistent high unemployment (as in Europe, or the U.S. in
the 1930s) raises the non-accelerating-inflation-rate-of-unemployment
considerably...