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We estimate a linear and a piecewise linear Phillips curve model with regional labor market data for West German and Neue Länder. Employing regional observations allows us to country difference the data. This eliminates, under the assumption of homogeneous Länder, supply shocks and changes in...
Persistent link: https://www.econbiz.de/10005382354
NAIRU. The labour macro literature tries to explain unemployment dynamics and determine the real economic factors that drive …
Persistent link: https://www.econbiz.de/10005566415
We estimate a linear and a piecewise linear Phillips curve model with regional labor market data for West German and Neue Länder. Employing regional observations allows us to country difference the data. This eliminates, under the assumption of homogeneous Länder, supply shocks and changes in...
Persistent link: https://www.econbiz.de/10008464668
. Our results show that the Natural Rate/NAIRU has increased by approximately 1.5 percentage points since the 1970s, driven …
Persistent link: https://www.econbiz.de/10005423757
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 dependence of the new NAIRU on unemployment versus structural factors …
Persistent link: https://www.econbiz.de/10011098358
This paper examines theoretical and empirical aspects of the employment in Germany from 2000 – 2013. Inspired by Krelle’s (1996) discussion paper relevant German labor market data are traced and it is analyzed to which extend some theoretical employment considerations and labor market reform...
Persistent link: https://www.econbiz.de/10011266260
traditional real wage formulation. Implications for the recent behavior of the NAIRU are explored. …
Persistent link: https://www.econbiz.de/10011269327
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
inflacionarias importantes. Una posible explicación a este fenómeno, es que la tasa de desempleo de equilibrio (NAIRU) haya caído … desempleo y vacantes) para el período 1976Q1-2014Q2 y se realiza una estimación de la NAIRU a partir de un modelo que combina … NAIRU ha caído, ubicándose a partir del 2013 por debajo del 10%. Esto sugiere que la eficiencia en el emparejamiento entre …
Persistent link: https://www.econbiz.de/10011183001
The main goal of the paper is to estimate the NAIRU for Croatian economy and to discuss the implications of this … indicator. The paper provides time-varying estimates of the NAIRU for 2000q1-2011q1 period, which were obtained by applying the … average registered unemployment rate. The dynamics of the estimated NAIRU points to the ability of the NAIRU to reveal …
Persistent link: https://www.econbiz.de/10010904512