Working Paper Series, Sveriges Riksbank (Central Bank of Sweden)
A Theory-Consistent System Approach for Estimating Potential Output and the NAIRU
() and Per Jansson
Abstract: A new approach is proposed for estimating potential output
and the NAIRU. Identification is achieved using Okun’s law and a Phillips
curve. The performance of the methodology is exemplified using data from
Canada, the UK, and the US.
Keywords: NAIRU; Okun's law; Phillips curve; Potential output; Unobserved-components models; (follow links to similar papers)
JEL-Codes: C32; E32; (follow links to similar papers)
7 pages, November 1, 1998
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- This paper is published as:
Apel, Mikael and Per Jansson, (1999), 'A Theory-Consistent System Approach for Estimating Potential Output and the NAIRU', Economics Letters, Vol. 64, No. 3, pages 271-275
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