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...
Gespeichert in:
| 1. Verfasser: | |
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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
no.250 |
| 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 p.) 21 x 29.7cm. |
| DOI: | 10.1787/785730283515 |
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| spelling | Richardson, Pete VerfasserIn 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 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.250 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 MitwirkendeR ctb Giorno, Claude MitwirkendeR ctb Meacci, Mara MitwirkendeR ctb Rae, David MitwirkendeR ctb Turner, David MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/785730283515 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_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 | 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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