inflation. Among other things, the unemployment gap, which is the difference between unemployment rate and non …-accelerating inflation rate of unemployment (NAIRU), is used to measure inflationary pressure from the labour market. This paper examines … revisional property of the NAIRU is also examined, as well as the forecast capacity of the unemployment gap with regard to wages …

and matching unemployment. We show that trend growth in itself does not generate a trade-off for the monetary authority …

period than any previously used. We find that the difference between unemployment and the NAIRU is a significant determinant …