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The Recent Evolution of the Natural Rate of Unemployment [PDF]
SSRN Electronic Journal, 2011 The U.S. economy is recovering from the financial crisis and ensuing deep recession, but the unemployment rate has remained stubbornly high. Some have argued that the persistent elevation of unemployment relative to historical norms reflects the fact ...
Mary C. Daly +2 more
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The Active Role of the Natural Rate of Unemployment [PDF]
Research in Economics, 2023 We propose that the natural rate of unemployment may have an active role in the business cycle, in contrast to a widespread view that the rate is fairly smooth and at most only weakly cyclical. We demonstrate that the tendency to treat the natural rate as near-constant would explain the surprisingly low slope of the Phillips curve.
Robert E. Hall, Marianna Kudlyak
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State Natural Rates of Unemployment
SSRN Electronic Journal, 2016 I construct estimates for the natural rate of unemployment by state and year from 1981 to 2013. The estimate is conditional on a set of standard public finance variables and state fixed effects. While year fixed effects were used to estimate the model, the year fixed effects are dropped and replaced with a value that forces the national natural rate of
Ryan Murphy
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How Natural is the Natural Rate of Unemployment? [PDF]
Challenge, 2014 The natural in the natural rate of unemployment is a misnomer, insofar as unemployment does not occur in nature. The concept is especially misleading because many economists and media commentators inappropriately equate it with full employment.
Komlos, John
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FRIEDMAN, PHELPS, LUCAS AND THE NATURAL RATE OF UNEMPLOYMENT [PDF]
SSRN Electronic Journal, 2011 This paper attempts to build a narrative on the developments of macroeconomics in the postwar period through the debates about the so called “natural rate of unemployment”. The definitions of the concept in the seminal papers of Milton Friedman (1968a) and Edmund Phelps (1967, 1968) and its origins in their previous works will be presented - as well as
Danilo Freitas, Ramalho da Silva
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Inflation, Flexible Exchange Rates, and the Natural Rate of Unemployment [PDF]
, 1981 The most important conclusion of this paper is that the growth rate of the money supply influences the U.S. inflation rate more strongly and promptly than in most previous studies, because the flexible exchange rate system has introduced an additional channel of monetary impact, over and above the traditional channel operating through labor-market ...
Robert M. Gordon
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Temporary Employment and the Natural Rate of Unemployment [PDF]
SSRN Electronic Journal, 2000 This paper examines the determinants of the natural rate of unemployment using a combined cross section and time series data set. The results suggest that industry composition affects the natural rate. In particular, a higher share of temporary employment in a local labor market tends to lower the natural rate of unemployment--most likely through the ...
Maria Ward Otoo
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Comparative Economic Research, 2019 The focus of our study is on determining whether unemployment rates in 8 New Industrialized Economies conform to the natural rate hypothesis or the hysteresis hypothesis.
Dieu Nsenga +4 more
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Productivity and the Natural Rate of Unemployment [PDF]
, 2004 I propose an econometric model that improves upon existing methods of estimating the natural rate of unemployment (NAIRU) by using information contained in the trend of productivity growth. My approach enhances the recently proposed model of Staiger, Stock and Watson (1997) in several respects.
Jiří Slačálek
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This article provides a comprehensive description of the theoretical foundations and practical measurement methods of unemployment concept and unemployment rate. Unemployment represents the situation where economically active population cannot utilize their skills and labor; the article examines the main forms of unemployment (frictional, structural ...
Siytemmatov, Khudoyshukur +2 more
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