Because the NAIRU is a purely theoretical construct, the Fed’s economists can simply change their estimates of this magic number. In fact, the Fed has already cut its NAIRU estimate three times in the past two years.
那么，我们应该从美联储决定不加息的行为中得出什么结论？一个可能的结论就是什么也不会发生。由于自然失业率是一个纯粹的理论建构，美联储的经济学家们可以直接更改对这个神奇的数字的估算。事实上在过去两年内美联储已经三次下调了对自然失业率的估算。