Results 11 to 20 of about 8,346 (201)
Production Constraints and the NAIRU [PDF]
Economics: Journal Articles, 2007 AbstractThis paper argues that the production constraints in the basic NAIRU model should be distinguished by type: capital constraints and labour constraints. It notes the failure to incorporate this phenomenon in standard macro models. Using panel data for UK manufacturing over 80 quarters we show that capital constraints became relatively more ...
Ciaran Driver, Stephen G. Hall
doaj +14 more sources
The NAIRU in Theory and Practice [PDF]
Journal of Economic Perspectives, 2002 This paper discusses the NAIRU—the non-accelerating inflation rate of unemployment. It first considers the role of the NAIRU concept in business cycle theory, arguing that this concept is implicit in any model in which monetary policy influences both inflation and unemployment.
Laurence Ball, N. Gregory Mankiw
core +9 more sources
Nairu estimates for Croatia [PDF]
Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu, 2012 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 Kalman fi ...
Valerija Botrić
doaj +4 more sources
Measuring the NAIRU — A structural VAR approach [PDF]
Frontiers of Economics in China, 2011 This paper calculates the NAIRU for the US in a framework that allows inflation and unemployment to be jointly endogenous. We define the NAIRU as being the component of actual unemployment that is uncorrelated with inflation in the long run. We use a structural VAR to estimate the NAIRU and core inflation simultaneously and with greater precision than ...
Zhao, Hongmei +1 more
openaire +6 more sources
Australian Economic ReviewABSTRACT This article examines the concept of the non‐accelerating inflation rate of unemployment (NAIRU) and its application in Australia. We review its theoretical origins, international and domestic development, and the Reserve Bank of Australia's model‐based estimation approach.
Isaac Gross
openaire +2 more sources
The NAIRU: a critical appraisal [PDF]
, 2001 This paper is concerned with the question of the relevance of the NAIRU for policy formulation. However, that question leads to the following consideration. The estimates for the NAIRU are based on the econometric estimation of models of the economy. Particular models are used and particular interpretations are placed on the relationship between the ...
Malcolm Sawyer
openaire +5 more sources
Studying the Nairu and its Implications [PDF]
SSRN Electronic Journal, 2011 The current paper is a means of demonstrating our knowledge about macroeconomic theories, and its key variables, phenomena, and history. Given the key role that the Non-Accelerating Inflation Rate of Unemployment (NAIRU) has in the macroeconomic theory as well as its role in determining employment theories, it is raised the need for a thorough ...
Bozani, Vasiliki, Drydakis, Nick
openaire +5 more sources
The NAIRU-concept: A few remarks [PDF]
, 1996 This note gives a brief survey of main theoretical and empirical issues with respect to the NAIRU concept. According to modern labour market literature NAIRU is defined as the rate of unemployment at which inflation stabilizes in the absence of any wage-price surprises.
Pichelmann, Karl, Schuh, Andreas-Ulrich
openaire +3 more sources
Inflation expectations and nonlinearities in the Phillips curve
Journal of Applied Econometrics, Volume 38, Issue 4, Page 453-471, June/July 2023., 2023 Summary This paper examines the presence of nonlinearities in the Phillips curve. We allow for a flexible form of nonlinearity and estimate a threshold regression model with the number and location of thresholds determined directly from the data. Over the estimation period starting in the late 1960s, we document that the linear model cannot be rejected
Alexander Doser +3 more
wiley +1 more source
Fiscal Policy in the COVID‐19 Era1
Economic Papers: A journal of applied economics and policy, Volume 42, Issue 2, Page 107-152, June 2023., 2023 This paper analyses the COVID recession and the large fiscal policy response by modelling scenarios using a macro‐econometric model. The COVID recession mainly arose from lower household consumption of certain services under COVID social distancing. The fiscal response to compensate for income losses in those service industries meant that unemployment ...
Chris Murphy
wiley +1 more source