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The persistence of unemployment and the natural rate in Spain

✍ Scribed by Beatriz Rodriguez-Prado

Book ID
112727131
Publisher
Springer US
Year
1995
Tongue
English
Weight
732 KB
Volume
1
Category
Article
ISSN
1083-0898

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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