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WHAT ARE ESTIMATES OF THE NATURAL RATE OF UNEMPLOYMENT MEASURING?

✍ Scribed by A. P. Thirlwall


Book ID
115232514
Publisher
John Wiley and Sons
Year
2009
Tongue
English
Weight
73 KB
Volume
45
Category
Article
ISSN
0140-5543

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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