Zoëga, Gylfi - Sedlabanki Íslands - 2002
This paper uses Icelandic data to assess standard methods for estimating the natural rate of unemployment. Surprisingly …, estimating the path of the natural rate of unemployment for the period 1990-1998 produces a natural-rate path that mirrors the … prices exhibit downward rigidity at low inflation rates. As a result, estimating the level of the natural rate of …