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The Natural Rate of Unemployment in Korea: Estimation and Implications

✍ Scribed by Jinsoo Hahn


Book ID
115622130
Publisher
Elsevier Science
Year
1996
Tongue
English
Weight
134 KB
Volume
22
Category
Article
ISSN
0147-5967

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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