Fabiani, Silvia; Mestre, Ricardo - In: Empirical Economics 29 (2004) 2, pp. 311-341
This paper addresses the issue of measuring the NAIRU for the euro area and assessing the robustness and precision of … cyclical unemployment and the output gap with a Phillips curve and stochastic laws of motion for the NAIRU and potential output …-wide NAIRU that is robust to changes in the underlying models. This robustness is shown to hold both in terms of the mean – i …