. Our results show that the Natural Rate/NAIRU has increased by approximately 1.5 percentage points since the 1970s, driven …

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 …

Estimating natural rate of unemployment (NAIRU) is important for understanding the joint dynamics of unemployment … with NAIRU in a model consistent way. We estimate a structural model with forward and backward looking Phillips curve …, we find that the estimated NAIRU tracks unemployment rate closely, except for the high inflation period (late 1970s …

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 …