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The equilibrium rate of unemployment and the real exchange rate : an unobserved components system approach
Lindblad, Hans; Sellin, Peter - 2003
. 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/10011583137
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Will the (German) NAIRU please stand up?
Franz, Wolfgang - 2003
" (NAIRU) for Germany. There are quite a few obstacles to perceiving the NAIRU as an understandable and easy-to-use analytical …, cointegration issues, and a time variability of the NAIRU and its confidence intervals. Despite many serious caveats a new attempt … is made to estimate a NAIRU for Germany based on conventional Phillips curves as well as on new approaches such as using …
Persistent link: https://www.econbiz.de/10011448601
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Estimating the natural rate of hours
Berger, Tino; Vierke, Hauke - In: Macroeconomic dynamics 21 (2017) 6, pp. 1426-1453
Persistent link: https://www.econbiz.de/10011805484
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The Equilibrium Rate of Unemployment and the Real Exchange Rate : An Unobserved Components System Approach
Lindblad, Hans - 2009
A common assumption when analysing unemployment is that the economy is closed. However, the equilibrium rate of unemployment is not identified in an open economy unless the foreign sector is modeled. Therefore we set up and estimate a structural unobserved components open economy model for the...
Persistent link: https://www.econbiz.de/10012720839
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A simultaneous model of the Swedish Krona, the US Dollar and the Euro
Lindblad, Hans (contributor); Sellin, Peter (contributor) - 2006
In this paper we simultaneously estimate the real exchange rates between the Swedish Krona, the US Dollar and the Euro. A prime candidate for explaining the exchange rate movements is relative potential output. Since this variable is unobservable, cyclical and potential output are estimated in...
Persistent link: https://www.econbiz.de/10003319543
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Monetary policy shocks in open economies and the inflation unemployment trade-off : the case of the Euro Area
Ribba, Antonio - In: Journal of risk and financial management : JRFM 15 (2022) 4, pp. 1-12
In this paper, we show that in order to obtain a sound identification of Euro Area monetary policy shocks, one needs to deal with the interaction of the European Central Bank and the US Federal Reserve. In other words, a proper identification of monetary policy shocks for an open economy like...
Persistent link: https://www.econbiz.de/10013168711
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Measuring the Nairu : A Complementary Approach
de la Serve, Marie-Elisabeth - 2011
Estimates of the Nairu generally suffer from a large uncertainty, which can be reduced by adopting a bivariate …, it appears that the Nairu can substantially differ from the unemployment trend. Second, relaxing the common trend …
Persistent link: https://www.econbiz.de/10013120707
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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 … economic relation on the basis of which the NAIRU is derived. -- Non-accelerating inflation rate of unemployment ; state …
Persistent link: https://www.econbiz.de/10008657146
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NAIRU Estimates for Germany : New Evidence on the Inflation-Unemployment Trade-Off
Kajuth, Florian - 2016
The paper estimates the NAIRU from a Phillips curve relationship in the state-space framework. To identify the … economic relation on the basis of which the NAIRU is derived …
Persistent link: https://www.econbiz.de/10012991082
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The unemployment-inflation trade-off revisited : the Phillips curve in COVID times
Crump, Richard K.; Eusepi, Stefano; Giannoni, Marc Paolo; … - 2024
Using a New Keynesian Phillips curve, we document the rapid and persistent increase in the natural rate of unemployment, 𝑢𝑡 ∗ , in the aftermath of the pandemic and characterize its implications for inflation dynamics. While the bulk of the inflation surge is attributed to temporary...
Persistent link: https://www.econbiz.de/10014501075