(redirected from Accelerating Inflation Rate of Unemployment)
AIRUAdvanced Inertial Reference Unit
AIRUAssociazione Italiana Riscaldamento Urbano (Italian: Italian Association of Urban Heating)
AIRUAccelerating Inflation Rate of Unemployment
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1) A partial remedy is to use a two-step procedure, where the Non Accelerating Inflation Rate of Unemployment (NAIRU) or mark-up shock is first calibrated off model using external information, for example, on the impact of institutions in a reduced-form unemployment equation, and then simulated within the macroeconomic model.