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Short-run variation in the natural rate of unemployment

✍ Scribed by Michael F. Charette; Barry Kaufmann


Book ID
113247783
Publisher
Elsevier Science
Year
1987
Tongue
English
Weight
617 KB
Volume
9
Category
Article
ISSN
0164-0704

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Estimating the natural rate of unemploym
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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