Zhang, Wenlang; Semmler, Willi - Society for Computational Economics - SCE - 2004
constant NAIRU. In this paper we explore monetary policy considering different shapes of the Phillips curve and an endogenous … NAIRU. The NAIRU is, as recent papers suggest, made endogenous in the sense that it depends on monetary policy actions. We …), Graham and Snower et al (2002) we demonstrate how the NAIRU may be influenced by monetary policy. We provide empirical …