Measuring the Nairu
Evidence from Seven Economies
Bibliographic Data
| ID | 19313751 |
|---|---|
| Authors | Thomas Laubach (0000-0003-0471-4740, Federal Reserve Board of Governors, corresponding author) |
| Year | 2001 |
| Volume | 83 |
| Issue | 2 |
| Pages | 218-231 |
| Publication date | 2001-05-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | The Review of Economics and Statistics (JOURNAL) |
| Journal identifiers | ISSN: 0034-6535 • E-ISSN: 1530-9142 |
| Publisher | MIT Press - Journals (PUBLISHER) |
| DOI | 10.1162/00346530151143761 |
| OpenAlex | W2007347227 |
| Language | EN |
| Citations received | 10 |
| References cited | 12 |
Several specifications of state-space models are used to obtain estimates of the NAIRU for the G7 except Japan, plus Australia, over the past 28 years. A Phillips curve-type regression is shown to deliver estimates that do not mimic low-frequency movements in unemployment rates, even when a drift is included in the specification of the NAIRU. Standard errors around the estimates are extremely large. Using information about the behavior of unemployment, in addition to inflation, alleviates both these shortcomings
Econometrics · Economics · Inflation (cosmology) · Keynesian economics · Macroeconomics · NAIRU · Phillips curve · Regression · Statistics · Unemployment · Economic Growth and Productivity · Economic Theory and Policy · Mathematics · Monetary Policy and Economic Impact
Is unemployment hysteretic or structural? A Bayesian model selection approach
Cross-country connectedness in inflation and unemployment
The All‐Gap Phillips Curve
Measuring the Nairu with Reduced Uncertainty
Estimating Potential Output, Core Inflation, and the Nairu as Latent Variables
Hysteresis and the Nairu in the Euro Area
Variables observables et inobservables dans la théorie du taux de chômage d'équilibre
Full Employment
What is structural about unemployment in OECD countries
The power of economic models
| Unique citing works | 10 |
|---|---|
| Citations per year | 0,48 |
| Citation span | 2005 - 2025 (21) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 10 |