(NAIRU) by using information contained in the trend of productivity growth. My approach enhances the recently proposed model … to alternativestatistical assumptions. In economic terms, the productivity-augmented model generates a more realistic … productivity growth trend. I find support for the "level" hypothesis in both the US and international data. …

assumed that this may foster economic productivity and growth, but there may also be negative effects, i.e. problems due to …

The paper addresses the topic of an overall long-term productivity slowdown in labor productivity for a panel of 25 …-term productivity trends using state-space approaches, we extract a common factor from these long-term trend series using factor … analysis. The country specific differences are only of second order importance. Dominant is an overall long-term productivity …

) shifts with productivity growth. On this basis we estimate a dynamic system of macrolabour equations to evaluate the slope of …-run. Furthermore, during the stagflating 70s, the productivity slowdown contributed substantially to the increases in both unemployment … monetary expansion and productivity speedup of the roaring 90s were both responsible for the significant lowering of the …

inclusion of productivity shocks in standard New Keynesian Phillips Curve (NKPC). The question of interest is on the empirical … importance of and whether productivity shocks shift the Phillips curve using U.S. and Euro area data. Highlighting the inclusion … of productivity growth, we employ a hybrid model specification augmented with a productivity term. The model is estimated …