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Is the NAIRU More Useful in Forecasting Inflation than the Natural Rate of Unemployment?
Claar, Victor V - Volkswirtschaftliche Fakultät, … - 2002
Recent studies have indicated that the terms 'NAIRU' (non-accelerating inflation rate of unemployment) and 'natural … rate of unemployment' are not interchangeable. While NAIRU is an empirical macroeconomic relationship estimated via a … natural rate of unemployment relative to the NAIRU. The natural rate of unemployment in the USA since the Second World War is …
Persistent link: https://www.econbiz.de/10005835658
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Оценивание равновесного реального обменного курса российского рубля
Shumilov, Andrei; Sosunov, Kirill - Volkswirtschaftliche Fakultät, … - 2005
Following methodological approach proposed by Edwards, the paper estimates empirically Russia's equilibrium real exchange rate (ERER) for the period 1995–2003. ERER is defined as the relative price of non-tradables to tradables consistent with the simultaneous achievement of internal and...
Persistent link: https://www.econbiz.de/10011259205
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Misalignment under different exchange rate regimes: the case of Turkey
Dağdeviren, Sengül; Ogus Binatli, Ayla; Sohrabji, Niloufer - Volkswirtschaftliche Fakultät, … - 2011
The paper examines misalignment of the Turkish lira between 1998 to 2008. Misalignment, specifically overvaluation has been linked to fixed exchange rate regimes. By studying the case of Turkey during this period which covers both a fixed and floating exchange rate regime, we contribute to the...
Persistent link: https://www.econbiz.de/10011111300
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Does Employment Protection Legislation Induce Structural Unemployment? Evidence from 15 OECD Countries
Afful, Efua Amoonua - Volkswirtschaftliche Fakultät, … - 2014
This paper estimates the Non-Accelerating Inflation Rate of Unemployment (NAIRU) for 15 OECD economies from 1990 to … the NAIRU. A possible negative externality of employment protection legislation is a higher level of structural … dismissals for regular contracts and the NAIRU. The effect of strictness of employment protection for regular contracts is …
Persistent link: https://www.econbiz.de/10011111665
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Etimating NAIRU: the Morocco case
El Alaoui, Aicha; Ezzahidi, Elhadj; Eladnani, Mohamed Jellal - Volkswirtschaftliche Fakultät, … - 2013
The concept of NAIRU summarized the observed negative correlation between the unemployment rate and the inflation rate …’s NAIRU for 1998Q1-2012Q4 period by applying the Kalman filter. …
Persistent link: https://www.econbiz.de/10011112751
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Der Beitrag alternativer NAIRU-Kurven zur Erklärung der Inflation
Quaas, Georg; Klein, Mathias - Volkswirtschaftliche Fakultät, … - 2010
The Non-Accelerating Inflation Rate of Unemployment (NAIRU) is a major concept in (monetary) economics in predicting … variable, several questions arise about its adequate estimation. The following study determines four different possible NAIRU … trimmed to satisfactorily explain inflation changes. It turns out that besides the NAIRU, several other variables like the …
Persistent link: https://www.econbiz.de/10008685371
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An Empirical Study on the New Keynesian Wage Phillips Curve: Japan and the US
Muto, Ichiro; Shintani, Kohei - Volkswirtschaftliche Fakultät, … - 2014
We present an empirical analysis on the New Keynesian Wage Phillips Curve (NKWPC), which is derived by Gali (2011) as a micro-founded structural relationship between wage inflation and the unemployment rate under a sticky wage framework using data for Japan and the US. We find that the empirical...
Persistent link: https://www.econbiz.de/10011113247
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A Spectral Representation of the Phillips Curve in Australia
Mallick, Debdulal - Volkswirtschaftliche Fakultät, … - 2014
We document evolving patterns in the inflation-unemployment relationship in Australia in the frequency domain under different monetary policy regimes and labor market regulations. The RBA adopted monetary targeting in 1976 and inflation targeting in 1993. There were important changes in the...
Persistent link: https://www.econbiz.de/10011114212
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The contribution of domestic, regional and international factors to Latin America's business cycle
Boschi, Melisso; Girardi, Alessandro - Volkswirtschaftliche Fakultät, … - 2009
This paper quantifies the relative contribution of domestic, regional and international factors to the fluctuation of domestic output in six key Latin American (LA) countries: Argentina, Bolivia, Brazil, Chile, Mexico and Peru. Using quarterly data over the period 1980:1-2003:4, a multi-variate,...
Persistent link: https://www.econbiz.de/10008805833
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Exchange rate arrangements and misalignments: contrasting words and deeds
Yougbaré, Lassana - Volkswirtschaftliche Fakultät, … - 2011
The paper studies the misalignment2-exchange rate regime linkages by pursing three avenues. First, does misalignment vary across alternative de jure and de facto exchange rate systems? Second, can these misalignment-effects be explained by different probabilities of undervaluation and...
Persistent link: https://www.econbiz.de/10009223343