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Li, Mengheng; Mendieta-Muñoz, Ivan - In: Journal of economic dynamics & control 163 (2024), pp. 1-17

Persistent link: https://www.econbiz.de/10015050835

Li, Mengheng; Mendieta-Muñoz, Ivan - 2024

We study how the output gap affects potential output over time-i.e., the dynamic hysteresis effect. To do so, we introduce novel unobserved components (UC) models that consider hysteresis as a sequence of lagged effects, thus separating the long-run recession-induced adverse effects from other...

Persistent link: https://www.econbiz.de/10014483593

Hysteresis and NAIRU in the Euro area

Logeay, Camille; Tober, Silke - 2005 - This version: July 2005

This paper analyses the Nairu in the Euro Area and the influence that hysteresis had on its development. Using the … Kalman-filter technique we find that the Nairu has varied considerably since the early seventies. The Kalman-filter technique … is applied here using explicit exogenous variables. In order to test for hysteresis, the dependence of the Nairu on …

Persistent link: https://www.econbiz.de/10003744523

The NAIRU-concept: A few remarks

Pichelmann, Karl; Schuh, Ulrich - 1996

This note gives a brief survey of main theoretical and empirical issues with respect to the NAIRU concept. According to … modern labour market literature NAIRU is defined as the rate of unemployment at which inflation stabilizes in the absence of … any wage-price surprises. Conventional thinking about the equilibrium unemployment rate assumes that in the long run NAIRU …

Persistent link: https://www.econbiz.de/10010291066

Reconsidering the natural rate hypothesis

Jump, Robert Calvert; Stockhammer, Engelbert - 2019

The natural rate hypothesis states that there exists an unemployment rate at which inflation is stable, and that this unemployment rate is independent of aggregate demand shocks. The hysteresis hypothesis, in contrast, states that the long run unemployment rate can be affected by aggregate...

Persistent link: https://www.econbiz.de/10012154146

Nuevas estimaciones de la NAIRU de la economía española: métodos directos

GÓMEZ GARCÍA, F.; REBOLLO SANZ, Y.; USABIAGA IBÁÑEZ, C. - In: Estudios de Economía Aplicada 20 (2002) Diciembre, pp. 509-530

En este trabajo proporcionamos diversas estimaciones de la NAIRU de la economía española para el período 1976-2000. Así … problemas de falta de robustez y notable imprecisión detectados. In this article different NAIRU estimates for the Spanish … between observed unemployment and the NAIRU estimates to inflation, it is necessary an additional research effort in this area …

Persistent link: https://www.econbiz.de/10005737019

Hysteresis in unemployment : evidence from OECD estimates of the natural rate

Ball, Laurence M.; Onken, Joern - In: International finance : the only journal bridging the … 25 (2022) 3, pp. 268-284

Persistent link: https://www.econbiz.de/10013472777

Non-accelerating inflation rate of unemployment (NAIRU) in Iran

Kalbasi, Nahid; Ashtary, Maryam - In: International business and economics research journal 10 (2011) 11, pp. 63-70

Persistent link: https://www.econbiz.de/10009533757

Hysteresis in Unemployment : Old and New Evidence

Ball, Laurence M. - 2009

This paper argues that hysteresis helps explain the long-run behavior of unemployment. The natural rate of unemployment is influenced by the path of actual unemployment, and hence by shifts in aggregate demand. I review past evidence for hysteresis effects and present new evidence for 20...

Persistent link: https://www.econbiz.de/10012463829

Hysteresis in Unemployment

Blanchard, Olivier J. - 1986

The recent European experience of high persistent unemployment has led to the development of theories of unemployment hysteresis embodying the idea that the equilibrium unemployment rate depends on the history of the actual unemployment rate. This paper summarizes two directions of research on...

Persistent link: https://www.econbiz.de/10012477034