structural:scholar_edition, linguistic:translation
Development

"At any moment of time, there is some level of unemployment which has the property that it is consistent with equilibrium in the structure of real wages... The 'natural rate of unemployment'... is the level that would be ground out by the Walrasian system of general equilibrium equations, provided there is embedded in them the actual structural characteristics of the labour and commodity markets, including market imperfections, stochastic variability in demands and supplies, the costs of gathering information about job vacancies, and labor availabilities, the costs of mobility, and so on."