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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
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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
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The Phillips curve and long-term unemployment
Llaudes, Ricardo - 2005
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/10011604487
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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
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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
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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
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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
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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
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The European Commission's new NAIRU : does it deliver?
Gechert, Sebastian; Rietzler, Katja; Tober, Silke - 2014
The NAIRU is a key component of potential output and as such critically affects output gap estimates. In May 2014, the European Commission changed its specification of the NAIRU for several countries and lowered its NAIRU estimates - in the case of Spain from 26.6% to 20.7% for 2015. To test the...
Persistent link: https://www.econbiz.de/10010458229
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Estimating the natural rate of unemployment for Ukraine
Vdovychenko, Artem - 2022
In this study, we apply the Kalman filter to estimate the set of reduced-form Phillips curves for different types of inflation in Ukraine. Based on the estimated models, we derive a number of series of non-accelerating inflation rate of unemployment (NAIRU) that provide information about the...
Persistent link: https://www.econbiz.de/10013387313