EconPapers    
Economics at your fingertips  
 

NAIRU ESTIMATES IN TRANSITIONAL ECONOMY WITH EXTREMELY HIGH UNEMPLOYMENT RATE: THE CASE OF REPUBLIC OF MACEDONIA

Predrag Trpeski and Dragan Tevdovski ()

Economic Annals, 2015, vol. 60, issue 206, 167 - 186

Abstract: The main goal of the paper is to estimate the NAIRU for the Macedonian economy and to discuss the applicability of this indicator. The paper provides time-varying estimates for the period 1998-2012, which are obtained using the Ball and Mankiw (2002) approach, supplemented with the iterative procedure proposed by Ball (2009). The results reveal that the Macedonian NAIRU has ahumpshaped path. The estimation is based on both the LFS unemployment rate and the LFS unemployment rate corrected for employment in the grey economy. The dynamics of the estimated NAIRU stress the ability of the NAIRU to present the cyclical misbalances in a national economy.

Keywords: NAIRU; unemployment; inflation; Macedonia. (search for similar items in EconPapers)
JEL-codes: J64 E24 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed

Downloads: (external link)
http://www.ekof.bg.ac.rs/wp-content/uploads/2014/04/323-1.pdf (application/pdf)

Related works:
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:beo:journl:v:60:y:2015:i:206:p:167-186

Ordering information: This journal article can be ordered from
http://ea.ekof.bg.ac.rs/

Access Statistics for this article

Economic Annals is currently edited by Božidar Cerović

More articles in Economic Annals from Faculty of Economics, University of Belgrade Contact information at EDIRC.
Series data maintained by Goran Petrić ().

 
Page updated 2018-03-25
Handle: RePEc:beo:journl:v:60:y:2015:i:206:p:167-186