๐”– Bobbio Scriptorium
โœฆ   LIBER   โœฆ

Estimating the natural rate of unemployment and testing the natural rate hypothesis

โœ Scribed by Michael K. Salemi

Publisher
John Wiley and Sons
Year
1999
Tongue
English
Weight
238 KB
Volume
14
Category
Article
ISSN
0883-7252

No coin nor oath required. For personal study only.

โœฆ Synopsis

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 inยฏation. The model is derived from a version of the wage bargaining model of Blanchard and embodies a version of the natural rate hypothesis. The model is estimated by embedding the Kalman ยฎlter within the full-information maximum likelihood procedure. For US data, the estimated model implies substantial post-war variation in the natural rate and a negative, but weak, eect of inยฏation surprises on unemployment.

๐Ÿ“œ SIMILAR VOLUMES

Estimating the discount rate policy reac
Estimating the discount rate policy reaction function of the monetary authority
โœ Woon Gyu Choi ๐Ÿ“‚ Article ๐Ÿ“… 1999 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 245 KB

This paper estimates a policy rule that explains the sign and the magnitude of the Federal Reserve's (Fed's) discount rate changes. It sets out a two-sided Type II Tobit model and develops a procedure for its estimation, considering the discrete and censored nature of the changes. The results sugges

Rate constant for the gas-phase reaction
Rate constant for the gas-phase reaction of hydroxyl radical with the natural hydrocarbon bornyl acetate
โœ Cรฉcile Coeur; Vรฉronique Jacob; Panayotis Foster; Patrick Baussand ๐Ÿ“‚ Article ๐Ÿ“… 1998 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 133 KB ๐Ÿ‘ 2 views

The gas-phase reaction of bornyl acetate (bicyclo[2,2,1]-heptan-2-ol-1,7,7-trimethyl-acetate) with hydroxyl radical has been studied. A relative method was used to determine the rate constant for this reaction, with n-octane as reference compound. Methyl nitrite photolysis experiments were carried

Genomic scanning and the transmission/di
Genomic scanning and the transmission/disequilibrium test: Analysis of error rates
โœ Michael B. Miller ๐Ÿ“‚ Article ๐Ÿ“… 1997 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 50 KB ๐Ÿ‘ 1 views

A multi-allelic extension of the transmission/disequilibrium test (TDT) was applied to quantitative data from GAW10 Problem 2A by using thresholds to define affection status. Every one of 367 marker loci was screened. It was found that TDT results at neighboring loci are uncorrelated in these data (