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Sveriges Riksbank (Central Bank of Sweden) Working Paper Series, Sveriges Riksbank (Central Bank of Sweden)

No 74:
A Theory-Consistent System Approach for Estimating Potential Output and the NAIRU

Mikael Apel () 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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