The Concept, Policy Use and Measurement of Structural Unemployment: Estimating a Time Varying NAIRU Across 21 OECD Countries
The structural rate of unemployment and associated non-accelerating inflation rate of unemployment (the NAIRU) are of major importance to the analysis of macro and structural economic developments, although in practice these concepts are not well defined and there is considerable uncertainty and con...
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| Weitere Verfasser: | , , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2000
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The structural rate of unemployment and associated non-accelerating inflation rate of unemployment (the NAIRU) are of major importance to the analysis of macro and structural economic developments, although in practice these concepts are not well defined and there is considerable uncertainty and controversy concerning their measurement and policy use. The present paper reviews a range of conceptual and analytical issues and related empirical studies to examine the usefulness and limitations of such concepts. A reduced-form Phillips curve approach is found the most suitable conceptual framework for representing the NAIRU as currently used by the OECD in its policy analysis and surveillance work. Three distinct classes of NAIRU concept are identified, distinguished by the time-frame in which they are defined, which map directly into the broad requirements for macro and structural policy analysis. In line with a number of recent empirical studies, this general approach is applied ... |
| Beschreibung: | 1 Online-Ressource (75 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/785730283515 |
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| spelling | Richardson, Pete Verfasser aut The Concept, Policy Use and Measurement of Structural Unemployment Estimating a Time Varying NAIRU Across 21 OECD Countries Pete Richardson ... [et al] Paris OECD Publishing 2000 1 Online-Ressource (75 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers The structural rate of unemployment and associated non-accelerating inflation rate of unemployment (the NAIRU) are of major importance to the analysis of macro and structural economic developments, although in practice these concepts are not well defined and there is considerable uncertainty and controversy concerning their measurement and policy use. The present paper reviews a range of conceptual and analytical issues and related empirical studies to examine the usefulness and limitations of such concepts. A reduced-form Phillips curve approach is found the most suitable conceptual framework for representing the NAIRU as currently used by the OECD in its policy analysis and surveillance work. Three distinct classes of NAIRU concept are identified, distinguished by the time-frame in which they are defined, which map directly into the broad requirements for macro and structural policy analysis. In line with a number of recent empirical studies, this general approach is applied ... Economics Boone, Laurence ctb Giorno, Claude ctb Meacci, Mara ctb https://doi.org/10.1787/785730283515 Verlag kostenfrei Volltext |
| spellingShingle | Richardson, Pete The Concept, Policy Use and Measurement of Structural Unemployment Estimating a Time Varying NAIRU Across 21 OECD Countries Economics |
| title | The Concept, Policy Use and Measurement of Structural Unemployment Estimating a Time Varying NAIRU Across 21 OECD Countries |
| title_auth | The Concept, Policy Use and Measurement of Structural Unemployment Estimating a Time Varying NAIRU Across 21 OECD Countries |
| title_exact_search | The Concept, Policy Use and Measurement of Structural Unemployment Estimating a Time Varying NAIRU Across 21 OECD Countries |
| title_exact_search_txtP | The Concept, Policy Use and Measurement of Structural Unemployment Estimating a Time Varying NAIRU Across 21 OECD Countries |
| title_full | The Concept, Policy Use and Measurement of Structural Unemployment Estimating a Time Varying NAIRU Across 21 OECD Countries Pete Richardson ... [et al] |
| title_fullStr | The Concept, Policy Use and Measurement of Structural Unemployment Estimating a Time Varying NAIRU Across 21 OECD Countries Pete Richardson ... [et al] |
| title_full_unstemmed | The Concept, Policy Use and Measurement of Structural Unemployment Estimating a Time Varying NAIRU Across 21 OECD Countries Pete Richardson ... [et al] |
| title_short | The Concept, Policy Use and Measurement of Structural Unemployment |
| title_sort | the concept policy use and measurement of structural unemployment estimating a time varying nairu across 21 oecd countries |
| title_sub | Estimating a Time Varying NAIRU Across 21 OECD Countries |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/785730283515 |
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