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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)

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 (search for similar items in EconPapers)
JEL-codes: C32 E32 (search for similar items in EconPapers)
Date: 1998-11-01
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Published in Economics Letters, 1999, pages 271-275.

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