NAIRU estimates in transitional economy with extremely high unemployment rate: the case of the Republic of Macedonia

Predrag Trpeski and Dragan Tevdovski

MPRA Paper from University Library of Munich, Germany

Abstract: The paper provides time-varying NAIRU estimates for Macedonian economy for the period 1998-2012, which were obtained using Ball and Mankiw (2002) approach and additionally supplemented with iterative procedure proposed by Ball (2009). The results revealed that the Macedonian NAIRU has the hump-shaped path: the estimated NAIRU is 23.5 percent in the second quarter of 1998, peaks at 28.3 percent in the last quarter of 2005 and falls to 23.6 percent in the last quarter of 2012. The estimation is based on the corrected LFS unemployment rate for the employment in the grey economy.

Keywords: NAIRU; unemployment; inflation; Macedonia (search for similar items in EconPapers)
JEL-codes: E24 J64 (search for similar items in EconPapers)
Date: 2014-03-21
New Economics Papers: this item is included in nep-lab, nep-mac and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/56374/1/MPRA_paper_56374.pdf original version (application/pdf)

Related works:
Journal Article: NAIRU ESTIMATES IN TRANSITIONAL ECONOMY WITH EXTREMELY HIGH UNEMPLOYMENT RATE: THE CASE OF REPUBLIC OF MACEDONIA (2015)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:56374

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().