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The Determinants of the Natural Rate of Unemployment in the Neoclassical Model

✍ Scribed by R. W. Latham; D. A. Peel


Book ID
115286165
Publisher
John Wiley and Sons
Year
1975
Tongue
English
Weight
446 KB
Volume
51
Category
Article
ISSN
0013-0249

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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