The non-accelerating inflation rate of unemployment (NAIRU) is a theoretical level of unemployment below which inflation would be expected to rise. It was first introduced as the NIRU (non-inflationary rate of unemployment) by Franco Modigliani and Loukas Demetrios Papademos in 1975, as an improvement over the "natural rate of unemployment" concept, which was proposed earlier by Milton Friedman.
The non-accelerating inflation rate of unemployment (NAIRU) is a theoretical level of unemployment below which inflation would be expected to rise. It was first introduced as the NIRU (non-inflationary rate of unemployment) by Franco Modigliani and Loukas Demetrios Papademos in 1975, as an improvement over the "natural rate of unemployment" concept, which was proposed earlier by Milton Friedman.
Source: Wikipedia "NAIRU" · CC BY-SA 4.0
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