Low rates of inflation have been recorded in recent years, despite a decline in the unemployment rate. This phenomenon …

an equilibrium natural rate of unemployment, which is estimated to have been 3-4 percent in the 1980s, and a quasi …-equilibrium unemployment rate closer to actual rates of 7-8 percent. Corresponding to these two concepts of equilibrium unemployment, estimates … the quasi-equilibrium rate of unemployment or with the natural rate of unemployment …

The methodology used in this paper has three distinguishing features: the natural rate of unemployment and potential …

Multivariate Linear Filter to jointly estimate potential output, the natural rate of unemployment and the natural rate of interest …

moderately nonlinear model with a time-varying nonaccelerating-inflation-rate-of-unemployment (NAIRU). Rules that perform well in …

unemployment by about 2.2 pp after five years. If sequencing is required, starting with PMRs would be more effective in boosting … output, while starting with LMRs would reduce unemployment faster. Finally, increasing unemployment benefits would be more …

impact on unemployment in the short term, but that this effect rapidly disappears in the medium term in countries with … with more rigid labor market institutions. These effects are even larger for youth unemployment in the short term and long …-term unemployment in the medium term. Conversely, large upfront, or gradual but significant, comprehensive labor …