As such, they yield only conditional answers, and one might question the uniqueness of the equilibrium rate of unemployment. ... Broer, P., N. Draper and F . Huizinga (1999), The equilibrium rate of unemployment, an econometric analysis, CPB Report (this issue) ... Staiger, D., J.H. Stock and M.W. Watson ( 1997), The NAlRU, unemployment and monetary policy, Journal of ... introduction of the euro, national authorities in the European Union lose some potential macroeco- nomic policyanbsp;...