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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
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The Equilibrium Rate of Unemployment and the Real Exchange Rate: An Unobserved Components System Approach
Lindblad, Hans; Sellin, Peter - Sveriges Riksbank - 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/10005423757
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A simultaneous model of the Swedish Krona, the US Dollar and the Euro
Lindblad, Hans; Sellin, Peter - 2006
In this paper we simultaneously estimate the real exchange rates between the Swedish Krona, the US Dollar and the Euro. A prime candidate for explaining the exchange rate movements is relative potential output. Since this variable is unobservable, cyclical and potential output are estimated in...
Persistent link: https://www.econbiz.de/10010320767
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A Simultaneous Model of the Swedish Krona, the US Dollar and the Euro
Lindblad, Hans; Sellin, Peter - Sveriges Riksbank - 2006
In this paper we simultaneously estimate the real exchange rates between the Swedish Krona, the US Dollar and the Euro. A prime candidate for explaining the exchange rate movements is relative potential output. Since this variable is unobservable, cyclical and potential output are estimated in...
Persistent link: https://www.econbiz.de/10005190802
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Will the (German) NAIRU Please Stand up?
Franz, Wolfgang - 2003
" (NAIRU) for Germany. There are quite a few obstacles to perceiving the NAIRU as an understandable and easy-to-use analytical …, cointegration issues, and a time variability of the NAIRU and its confidence intervals. Despite many serious caveats a new attempt … is made to estimate a NAIRU for Germany based on conventional Phillips curves as well as on new approaches such as using …
Persistent link: https://www.econbiz.de/10010297287
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U.S. natural rate dynamics reconsidered
Bårdsen, Gunnar; Nymoen, Ragnar - 2006
Several features of the U.S. natural rate of unemployment are reconsidered through specification and testing of econometric models. Traditionally, the choice has been between a wage Phillips curve model, PCM, or an equilibrium correction wage curve model, WECM. The models proposed in this paper...
Persistent link: https://www.econbiz.de/10010284368
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Testing Steady-State Implications for the NAIRU
Bårdsen, Gunnar; Nymoen, Ragnar - 2000
Estimates of the NAIRU are usually derived either from a Phillips curve or from a wage curve. This paper investigates … the correspondence between the operational NAIRU-concepts and the steady state of a dynamic wage-price model. We derive …
Persistent link: https://www.econbiz.de/10012143566
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Will the (German) NAIRU please stand up?
Franz, Wolfgang - 2003
" (NAIRU) for Germany. There are quite a few obstacles to perceiving the NAIRU as an understandable and easy-to-use analytical …, cointegration issues, and a time variability of the NAIRU and its confidence intervals. Despite many serious caveats a new attempt … is made to estimate a NAIRU for Germany based on conventional Phillips curves as well as on new approaches such as using …
Persistent link: https://www.econbiz.de/10011448601
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U.S. natural rate dynamics reconsidered
Bårdsen, Gunnar; Nymoen, Ragnar - Økonomisk institutt, Universitetet i Oslo - 2006
Several features of the U.S. natural rate of unemployment are reconsidered through specification and testing of econometric models. Traditionally, the choice has been between a wage Phillips curve model, PCM, or an equilibrium correction wage curve model, WECM. The models proposed in this paper...
Persistent link: https://www.econbiz.de/10005198069
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Is the NAIRU More Useful in Forecasting Inflation than the Natural Rate of Unemployment?
Claar, Victor V - Volkswirtschaftliche Fakultät, … - 2002
Recent studies have indicated that the terms 'NAIRU' (non-accelerating inflation rate of unemployment) and 'natural … rate of unemployment' are not interchangeable. While NAIRU is an empirical macroeconomic relationship estimated via a … natural rate of unemployment relative to the NAIRU. The natural rate of unemployment in the USA since the Second World War is …
Persistent link: https://www.econbiz.de/10005835658