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This paper bridges the gap between two popular approaches to estimating the natural rate of unemployment, u*. The first … approach uses detailed labor market indicators, such as labor market flows, cross-sectional data on unemployment and vacancies … estimate the natural rate of unemployment in the United States using both data on labor market flows and a forward …
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' PC (relating the level of the inflation rate, not the change in this rate, to the rate of unemployment); and the …
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