A forecast based NAIRU measure of the US
This paper proposes a method to estimate the NAIRU for the U.S. It shares the notion of Estrella and Mishkin (1999) that defines the NAIRU as a leading indicator of inflation changes over the policy horizon. Our alternative construction offers a more theoretically sound and practically useful estimate of the NAIRU.
Year of publication: |
2006
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Authors: | Huh, Hyeon-Seung |
Published in: |
Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 13.2006, 3, p. 177-182
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Publisher: |
Taylor & Francis Journals |
Saved in:
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