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Testing Steady-State Implications for the NAIRU

Bårdsen, Gunnar; Nymoen, Ragnar - 2000

Estimates of the NAIRU are usually derived either from a Phillips curve or from a wage curve. This paper investigates the correspondence between the operational NAIRU-concepts and the steady state of a dynamic wage-price model. We derive the parameter restrictions that secure that...

Persistent link: https://www.econbiz.de/10012143566

Testing Steady-State Implications for the NAIRU

Bårdsen, Gunnar; Nymoen, Ragnar - Institutt for Samfunnsøkonomi, Norges … - 2000

Persistent link: https://www.econbiz.de/10005573916

Testing Steady-State Implications for the NAIRU

Bardsen, Gunnar; Nymoen, Ragnar - 2000

Estimates of the NAIRU are usually derived either from a Phillips-curve or from a real wage curve in an incomplete competition model. This paper investigates the correspondence between the operational NAIRU-concepts and the steady state of a dynamic wage-price model. We derive the parameter...

Persistent link: https://www.econbiz.de/10014159841

Measuring structural unemployment : is there a rough and ready answer?

Holden, Steinar; Nymoen, Ragnar - 1998

Persistent link: https://www.econbiz.de/10000168216

Measuring structural unemployment : is there a rough and ready answer?

Holden, Steinar; Nymoen, Ragnar - 1998

Persistent link: https://www.econbiz.de/10001350649

Measuring structural unemployment : NAWRU estimates in the nordic countries

Holden, Steinar; Nymoen, Ragnar - In: The Scandinavian journal of economics 104 (2002) 1, pp. 87-104

Persistent link: https://www.econbiz.de/10001666720

Measuring Structural Unemployment : Nawru Estimates in the Nordic Countries

Holden, Steinar; Nymoen, Ragnar - 2004

The non-accelerating wage rate of unemployment (NAWRU indicator), used by the OECD as a measure of structural … empirical wage equations for the same countries over the period 1964-1994, in sharp contrast to the increased NAWRU estimates …. The instability of the NAWRU estimates is an artefact of a misspecified underlying wage equation, and not due to …

Persistent link: https://www.econbiz.de/10014115902

Finnish manufacturing wages : 1960 - 1987 ; real-wage flexibility and hysteresis

Nymoen, Ragnar - In: Journal of policy modeling : JPMOD ; a social science … 14 (1992) 4, pp. 429-451

Persistent link: https://www.econbiz.de/10001130462

Macroeconomic stability or cycles? The role of the wage-price spiral

Kolsrud, Dag; Nymoen, Ragnar - 2010

We derive aggregate supply (AS) relationships for an intermediate-run macro model.The wage-price spiral provides the conceptual framework for a synthesis of diﬀerent contesting theoretical and empirical perspectives on the AS curve: the Phillips curve model (PCM) and the wage-price equilibrium...

Persistent link: https://www.econbiz.de/10011968395

Modelling the heuristic dynamics of the wage and price curve model of equilibrium unemployment

Kolsrud, Dag; Nymoen, Ragnar - 2012

A standard model of equilibrium unemployment consists of static equations for real wage ambitions (wage curve) and real wage scope (price curve), which jointly determine the NAIRU. The heuristics of the model states that unless the rate of unemployment approaches the NAIRU from any given initial...

Persistent link: https://www.econbiz.de/10011968441