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Productivity and the Natural Rate of Unemployment
Slacalek, Jiri - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2004
(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. …
Persistent link: https://www.econbiz.de/10004963765
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The Phillips Curve and Long-Term Unemployment
Llaudes, Ricardo - 2021
This paper studies the role of long-term unemployment in the determination of prices and wages. Labor market theories such as insider-outsider models predict that this type of unemployed are less relevant in the wage formation process than the newly unemployed. This paper looks for evidence of...
Persistent link: https://www.econbiz.de/10013318785
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The Phillips curve and long-term unemployment
Llaudes, Ricardo - 2005
This paper studies the role of long-term unemployment in the determination of prices and wages. Labor market theories such as insider-outsider models predict that this type of unemployed are less relevant in the wage formation process than the newly unemployed. This paper looks for evidence of...
Persistent link: https://www.econbiz.de/10011604487
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Will the (German) NAIRU please stand up?
Franz, Wolfgang - 2003
This paper deals with a critical assessment and a reestimation of the "non-accelerating in ation rate of unemployment" (NAIRU) for Germany. There are quite a few obstacles to perceiving the NAIRU as an understandable and easy-to-use analytical instrument, suitable for economic policy: the...
Persistent link: https://www.econbiz.de/10011448601
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New Keynesian Phillips Curve For Romania
Saman, Corina; Pauna, Bianca - 2014
The paper aims to estimate the New Keynesian Phillips curve in the case of Romanian economy. The empirical model estimates simultaneously the potential output and the output gap; the natural rate of unemployment and the cyclical unemployment as an Okun Law type relationship; and the New Phillips...
Persistent link: https://www.econbiz.de/10014149265
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NAIRU estimates for Germany : new evidence on the inflation-unemployment trade-off
Kajuth, Florian - 2010
The paper estimates the NAIRU from a Phillips curve relationship in the state-space framework. To identify the inflation-unemployment trade-off we account for a time-varying inflation trend to control for the part of inflation that is not affected by the cyclical component of unemployment. In...
Persistent link: https://www.econbiz.de/10008657146
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The European Commission's new NAIRU : does it deliver?
Gechert, Sebastian; Rietzler, Katja; Tober, Silke - 2014
The NAIRU is a key component of potential output and as such critically affects output gap estimates. In May 2014, the European Commission changed its specification of the NAIRU for several countries and lowered its NAIRU estimates - in the case of Spain from 26.6% to 20.7% for 2015. To test the...
Persistent link: https://www.econbiz.de/10010458229
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The Role of Expectations in Estimates of the NAIRU in the United States and the United Kingdom
Driver, Rebecca L.; Greenslade, Jennifer V.; Pierse, … - 2005
During the second half of the 1990s the US economy was characterised as the Goldilocks economy: not too hot, nor too cold, but just right. It was argued that this represented a new paradigm, enabling unemployment to remain low without igniting inflationary pressure. In this paper the evidence...
Persistent link: https://www.econbiz.de/10014076249
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Estimating the natural rate of unemployment for Ukraine
Vdovychenko, Artem - 2022
In this study, we apply the Kalman filter to estimate the set of reduced-form Phillips curves for different types of inflation in Ukraine. Based on the estimated models, we derive a number of series of non-accelerating inflation rate of unemployment (NAIRU) that provide information about the...
Persistent link: https://www.econbiz.de/10013387313
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A Kalman-Filter Approach to Estimating the Natural Rate of Unemployment
Claar, Victor V. - 2009
The terms "NAIRU" and "natural rate of unemployment" are not interchangeable. Further, while there is a consensus that the NAIRU represents an empirical macroeconomic relationship, little agreement exists regarding what is meant by the "natural rate of unemployment." This paper estimates the...
Persistent link: https://www.econbiz.de/10014209548