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On the long-run unemployment, inflation, and volatility
Fasani, Stefano - 2021
This paper builds up a simple New Keynesian model and revisits the relationship between unemployment and in ation in the long-run. It finds that when the labor market is affected by downward nominal wage rigidity, this relationship goes beyond the tradeoff between the first moments of...
Persistent link: https://www.econbiz.de/10012429726
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The unemployment inflation trade-off in the euro area
Linzert, Tobias (contributor) - 2005
This paper analyzes the relationship between unemployment and wage inflation for 10 of the euro area countries. The … combination of low wage inflation and high unemployment in Europe is usually attributed to a rise in the natural rate of … unemployment that may account for a changing pattern in the unemployment inflation trade-off. Moreover, it analyzes whether the …
Persistent link: https://www.econbiz.de/10003035532
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The Unemployment Inflation Trade-Off in the Euro Area
Linzert, Tobias - 2021
This paper analyzes the relationship between unemployment and wage inflation for 10 of the euro area countries. The … combination of low wage inflation and high unemployment in Europe is usually attributed to a rise in the natural rate of … unemployment that may account for a changing pattern in the unemployment inflation trade-off. Moreover, it analyzes whether the …
Persistent link: https://www.econbiz.de/10013318359
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Using A Forward-Looking Phillips Curve to Estimate the Output Gap in Peru
Rodríguez, Gabriel - Banco Central de Reserva del Perú - 2009
This paper identifies the output gap using the theoretical definition of the gap within a Phillips curve. The results show that the output gap is large and persistent. Furthermore, the output gap is not correlated with the stochastic trend which is similar to the asumption used in the unobserved...
Persistent link: https://www.econbiz.de/10005056569
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Estimating a New Zealand NAIRU
Szeto, Kam Leong; Guy, Melody - 2004
This paper estimates the non-increasing inflation rate of unemployment or NAIRU for New Zealand. A NAIRU that varies …
Persistent link: https://www.econbiz.de/10012115562
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Incorporating anchored inflation expectations in the Phillips curve and in the derivation of OECD measures of equilibrium unemployment
Rusticelli, Elena; Turner, David; Cavalleri, Maria Chiara - 2015
Inflation has become much less sensitive to movements in unemployment in recent decades. A common explanation for this … change is that inflation expectations have become better anchored as a consequence of credible inflation targeting by central … traditional ‘backward-looking’ Phillips curve, where current inflation is partly explained by an autoregressive distributed lag …
Persistent link: https://www.econbiz.de/10011399530
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The Phillips Curve and Long-Term Unemployment
Llaudes, Ricardo - 2021
maker: It produces more accurate forecasts of inflation and more precise estimates of the NAIRU …
Persistent link: https://www.econbiz.de/10013318785
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A Time-Varying Threshold Star Model of Unemployment and the Natural Rate
Dueker, Michael; Owyang, Michael; Sola, Martín - 2010
Smooth-transition autoregressive (STAR) models have proven to be worthy competitors of Markov-switching models of regime shifts, but the assumption of a time-invariant threshold level does not seem realistic and it holds back this class of models from reaching their potential usefulness. Indeed,...
Persistent link: https://www.econbiz.de/10014191035
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Estimating a New Zealand NAIRU
Szeto, Kam Leong; Guy, Melody - Treasury, Government of New Zealand - 2004
This paper estimates the non-increasing inflation rate of unemployment or NAIRU for New Zealand. A NAIRU that varies …
Persistent link: https://www.econbiz.de/10005176904
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Increased price markup from union coordination : OECD panel evidence
Bjørnstad, Roger; Kalstad, Kjartan Øren - 2010
Although coordination of wage bargaining probably affects entry barriers and competition in product markets, research on price determination has typically not considered such factors. We argue that the price markup depends on wage setting institutions and present empirical evidence in form of...
Persistent link: https://www.econbiz.de/10008665180