Karanassou, Marika; Sala, Hector; Snower, Dennis J. - School of Economics, UNSW Business School - 2008
. In the context of the new Phillips curve (NPC), we show that frictional growth, i.e. the interplay between lags and … the natural rate of unemployment. In the context of
the new Phillips curve (NPC), we show that frictional growth, i.e. the … models and the (structural) vector
autoregressions (VARs)
Key Words: Natural rate of unemployment, new Phillips Curve …