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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

Spatial aggregation bias in wage curve and NAWRU estimation

Persyn, Damiaan - 2020

I argue in this paper that the estimation of wage curves and NAWRUs at the country level suffers from spatial aggregation bias. Using European data for the years 2000-2017, I find steeper country level wage curves and higher NAWRUs, compared to estimating at the underlying regional level. The...

Persistent link: https://www.econbiz.de/10012206752

Measuring the UK short-run NAIRU

Batini, Nicoletta; Greenslade, Jennifer V. - 2003

This paper derives alternative measures of the short-run NAIRU (SRN) for the UK, the rate for unemployment at which … inflation will neither increase nor decrease in the short-run. We estimate the NAIRU jointly with price equations by using the …-run NAIRU measures prove helpful in predicting inflation and we demonstrate their usefulness in Taylor-type policy rules for the …

Persistent link: https://www.econbiz.de/10011517881

Phillips Curves and unemployment dynamics : a critique and a holistic perspective

Karanassou, Marika (contributor); Sala, Hector (contributor) - 2008

The conventional wisdom that inflation and unemployment are unrelated in the long-run implies the compartmentalisation of macroeconomics. While one branch of the literature models inflation dynamics and estimates the unemployment rate compatible with inflation stability, another one determines...

Persistent link: https://www.econbiz.de/10003736446

Is the Phillips Curve a Curve? Some Evidence and Implications for Australia

Debelle, Guy - 2011

The Phillips curve has generally been estimated in a linear framework. This paper investigates the possibility that the Phillips curve is indeed a curve, and shows that a convex short-run Phillips curve may be a more accurate representation of reality than the traditionally used linear...

Persistent link: https://www.econbiz.de/10013132857

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