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Productivity and the Natural Rate of Unemployment

Slacalek, Jiri - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2004

(NAIRU) by using information contained in the trend of productivity growth. My approach enhances the recently proposed model … to alternativestatistical assumptions. In economic terms, the productivity-augmented model generates a more realistic … productivity growth trend. I find support for the "level" hypothesis in both the US and international data. …

Persistent link: https://www.econbiz.de/10004963765

The Phillips Curve and Long-Term Unemployment

Llaudes, Ricardo - 2021

This paper studies the role of long-term unemployment in the determination of prices and wages. Labor market theories such as insider-outsider models predict that this type of unemployed are less relevant in the wage formation process than the newly unemployed. This paper looks for evidence of...

Persistent link: https://www.econbiz.de/10013318785

The Phillips curve and long-term unemployment

Llaudes, Ricardo - 2005

Persistent link: https://www.econbiz.de/10011604487

Will the (German) NAIRU please stand up?

Franz, Wolfgang - 2003

This paper deals with a critical assessment and a reestimation of the "non-accelerating in ation rate of unemployment" (NAIRU) for Germany. There are quite a few obstacles to perceiving the NAIRU as an understandable and easy-to-use analytical instrument, suitable for economic policy: the...

Persistent link: https://www.econbiz.de/10011448601

The Concept, Policy Use and Measurement of Structural Unemployment : Estimating a Time Varying NAIRU Across 21 OECD Countries

Richardson, Pete; Boone, Laurence; Giorno, Claude; … - 2000

The structural rate of unemployment and associated non-accelerating inflation rate of unemployment (the NAIRU) are of major importance to the analysis of macro and structural economic developments, although in practice these concepts are not well defined and there is considerable uncertainty and...

Persistent link: https://www.econbiz.de/10012444864

Alternative Measures of the NAIRU in the Euro Area : Estimates and Assessment

Fabiani, Silvia; Mestre, Ricardo - 2021

The paper focuses on the measurement of the NAIRU (Non-Accelerating-Inflation-Rate-of-Unemployment) for the euro area and assesses the usefulness of different methodologies developed in the literature to estimate this unobservable variable at the aggregate level. After reviewing the theoretical...

Persistent link: https://www.econbiz.de/10013320321

Flattening of the Phillips Curve: Estimations and consequences for economic policy

Kromphardt, Jürgen; Logeay, Camille - In: Intervention. European Journal of Economics and … 08 (2011) 1, pp. 43-67

We test the hypothesis that the long-term Phillips curve is downward sloping and has become flatter in the last 10 to 15 years. Controlling for the most important other factors influencing the inflation rate, we estimate cointegrations and test whether a "break" in the Phillips curve can be...

Persistent link: https://www.econbiz.de/10014363111

New Keynesian Phillips Curve For Romania

Saman, Corina; Pauna, Bianca - 2014

The paper aims to estimate the New Keynesian Phillips curve in the case of Romanian economy. The empirical model estimates simultaneously the potential output and the output gap; the natural rate of unemployment and the cyclical unemployment as an Okun Law type relationship; and the New Phillips...

Persistent link: https://www.econbiz.de/10014149265

The Role of Expectations in Estimates of the NAIRU in the United States and the United Kingdom

Driver, Rebecca L.; Greenslade, Jennifer V.; Pierse, … - 2005

During the second half of the 1990s the US economy was characterised as the Goldilocks economy: not too hot, nor too cold, but just right. It was argued that this represented a new paradigm, enabling unemployment to remain low without igniting inflationary pressure. In this paper the evidence...

Persistent link: https://www.econbiz.de/10014076249

NAIRU estimates for Germany : new evidence on the inflation-unemployment trade-off

Kajuth, Florian - 2010

The paper estimates the NAIRU from a Phillips curve relationship in the state-space framework. To identify the inflation-unemployment trade-off we account for a time-varying inflation trend to control for the part of inflation that is not affected by the cyclical component of unemployment. In...

Persistent link: https://www.econbiz.de/10008657146