The Conduct of Monetary Policy and the Natural Rate of Unemployment: Note
用一个分部门宏观模型证明货币政策能影响自然失业率，因为劳动力市场消除随机冲击造成的超额供给需要时间。文章推导了总产出波动对自然失业率的影响，并用算例展示不同货币政策规则的可能效果。
The potential of monetary policy to affect the natural rate of unemployment is demonstrated for a disaggregated macroeconomic model in which it takes time for labor markets to eliminate excess supplies resulting from stochastic shocks. The effect of aggregate output variability on the natural rate of unemployment is derived for the system in its stochastic steady state and illustrative calculations show the possible effects of varying the monetary policy rule. Copyright 1989 by Ohio State University Press.