というNBER論文をエマニュエル・サエズらが上げている(ungated版)。著者はPascal Michaillat(ブラウン大)、Emmanuel Saez(UCバークレー)。 以下はその要旨。 Most governments are mandated to maintain their economies at full employment. We propose that the best marker of full employment is the efficient unemployment rate, u*. We define u* as the unemployment rate that minimizes the nonproductive use of labor—both jobseeking and recruiting. The nonproductiv