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A NOTE ON EMPIRICAL TESTS AND ALTERNATIVE VERSIONS OF THE NATURAL RATE HYPOTHESIS

โœ Scribed by ANTONIO C. LEMGRUBER; BENNETT T. McCALLUM


Book ID
111042069
Publisher
John Wiley and Sons
Year
1976
Tongue
English
Weight
507 KB
Volume
44
Category
Article
ISSN
1463-6786

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Estimating the natural rate of unemploym
โœ Michael K. Salemi ๐Ÿ“‚ Article ๐Ÿ“… 1999 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 238 KB ๐Ÿ‘ 1 views

How should one measure the natural rate of unemployment? This paper proposes a systems procedure as an alternative to NAIRU. The natural rate is treated as an unobserved state variable in a system that includes measurement equations for the unemployment rate, the rate of wage growth and the rate of