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Atypicality and the Natural Vacancy Rate Hypothesis

✍ Scribed by G. Donald Jud; James Frew


Book ID
110692664
Publisher
John Wiley and Sons
Year
1990
Tongue
English
Weight
553 KB
Volume
18
Category
Article
ISSN
1080-8620

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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