Ritically evaluate the hypothesis that there is a Natural Rate of Unemployment. What are the policy implications of your analysis?

Here are some readings to site from and find information:

Friedman, M., 1968, The Role of Monetary Policy American Economic Review, 58(1)
March, 1-17

Corry, Bernard (1995) Politics and the natural rate hypothesis: a historical perspective in
Rod Cross, The Natural Rate of Unemployment. Reflections on 25 years of the hypothesis.
Cambridge: Cambridge University Press.

Cross, Rod (1995) Introduction in Rod Cross, The Natural Rate of Unemployment.
Reflections on 25 years of the hypothesis. Cambridge: Cambridge University Press.

Phelps, E. (1995) The origins and further development of the natural rate of
unemployment in Rod Cross, The Natural Rate of Unemployment. Reflections on 25 years of
the hypothesis. Cambridge: Cambridge University Press.

Farmer Roger Animal spirits, financial crises and Persistent Unemployment, NBER Working
Paper, No. 17137, available at: w17137

I will attach slides from week 8 to 10 which is what we have done soo far this term about this subject