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We focus on the equilibrium unemployment rate as a parameter implied by a dynamic aggregate model of wage- and price setting. The equilibrium unemployment rate depends on institutional labour market institutions through mark-up coefficients. Compared to existing studies, the resulting final...
Persistent link: https://www.econbiz.de/10010330277
This paper estimates the non-increasing inflation rate of unemployment or NAIRU for New Zealand. A NAIRU that varies … over time has important implications in considering inflationary pressures. This paper estimates the time-varying NAIRU … specifications and dependent variables suggests a band of NAIRU estimates of between four and five percent (with further error bands …
Persistent link: https://www.econbiz.de/10012115562
unemployment (NAIRU) is used. In a first step, the unobservable, exogenous NAIRU is estimated for Germany in a state space setting … the low-pay sector. Finally, by treating the NAIRU as the dependent variable, the impact of the low-wage share is … relationship between the NAIRU and the share of the low-wage sector. This hypothesis is rejected empirically. Indeed, for the time …
Persistent link: https://www.econbiz.de/10010460495
unemployment (NAIRU) is used. In a first step, the unobservable, exogenous NAIRU is estimated for Germany in a state space setting … the low-pay sector. Finally, by treating the NAIRU as the dependent variable, the impact of the low-wage share is … relationship between the NAIRU and the share of the low-wage sector. This hypothesis is rejected empirically. Indeed, for the time …
Persistent link: https://www.econbiz.de/10009306634
We focus on the equilibrium unemployment rate as a parameter implied by a dynamic aggregate model of wage- and price setting. The equilibrium unemployment rate depends on institutional labour market institutions through mark-up coefficients. Compared to existing studies, the resulting final...
Persistent link: https://www.econbiz.de/10009787067
The main goal of the paper is to estimate the NAIRU for Croatian economy and to discuss the implications of this … indicator. The paper provides time-varying estimates of the NAIRU for 2000q1-2011q1 period, which were obtained by applying the … average registered unemployment rate. The dynamics of the estimated NAIRU points to the ability of the NAIRU to reveal …
Persistent link: https://www.econbiz.de/10013082339
This paper provides new estimates of a time-varying NAIRU for Germany taking account of the structural break caused by … inflation rates is employed. Therefore, either the NAIRU concept is not applicable to Germany or, as it is our suggestion, one … inflation target put forward by the European Central Bank. The estimates presented in this paper suggest that the NAIRU …
Persistent link: https://www.econbiz.de/10012773106
longterm unemployment rate and trade union density on the NAIRU. The results show that the hysteresis hypothesis is confirmed … reduction, it is necessary to know the exact relationship between the NAIRU (Non-Accelerating Inflation Rate of Unemployment …) and the actual unemployment rate. Therefore, this paper examines the impact of various factors on change in the NAIRU rate …
Persistent link: https://www.econbiz.de/10012893889
The paper focuses on the measurement of the NAIRU (Non-Accelerating-Inflation-Rate-of-Unemployment) for the euro area … presents several estimates of the area-wide NAIRU based on a number of direct (or statistical) techniques. The latter range … different estimates of the aggregate NAIRU appear to be consistent and robust with respect to alternative specifications …
Persistent link: https://www.econbiz.de/10013320321
The structural rate of unemployment and associated non-accelerating inflation rate of unemployment (the NAIRU) are of … representing the NAIRU as currently used by the OECD in its policy analysis and surveillance work. Three distinct classes of NAIRU …
Persistent link: https://www.econbiz.de/10012444864