A forecast based NAIRU measure of the US

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Abstract

This paper proposes a method to estimate the NAIRU for the U.S. It shares the notion of Estrella and Mishkin (1999) that defines the NAIRU as a leading indicator of inflation changes over the policy horizon. Our alternative construction offers a more theoretically sound and practically useful estimate of the NAIRU.

Original languageEnglish
Pages (from-to)177-182
Number of pages6
JournalApplied Economics Letters
Volume13
Issue number3
DOIs
Publication statusPublished - 2006 Feb 20

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics

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