This paper uses unobserved components analysis to estimate the natural rate of unemployment in Hong Kong. We assume that the natural rate follows a random walk and is a determinant of the ...
The natural rate of unemployment can be measured as the time-varying steady state of a structural vectorautoregression. For post-War US data, the natural rate implied by this approach is more ...
This paper contributes to fill the huge existing gap in the literature on the Brazilian natural rate of unemployment. It reveals not only that the Brazilian Phillips curve (PC) has broken down since ...
I propose an econometric model that improves upon existing methods of estimating the natural rate of unemployment (NAIRU) by us- inginformation contained in the trend of productivity growth. My ...
A central tenet of inflation targeting is that establishing and maintaining well-anchored inflation expectations are essential. In this paper, we reexamine the role of key elements of the inflation ...