A Theory-Consistent System Approach for Estimating Potential Output and the NAIRU
Mikael Apel and
Per Jansson ()
No 74, Working Paper Series from Sveriges Riksbank (Central Bank of Sweden)
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 (search for similar items in EconPapers)
JEL-codes: C32 E32 (search for similar items in EconPapers)
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Published in Economics Letters, 1999, pages 271-275.
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Journal Article: A theory-consistent system approach for estimating potential output and the NAIRU (1999)
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Persistent link: http://EconPapers.repec.org/RePEc:hhs:rbnkwp:0074
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