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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/18087| Title: | Time-varying Nairu and real interest rates in the Euro Area |
| Keywords: | E32 C32 E52 ddc:330 Nairu Monetary Policy Kalman Filter Phillips curve Superneutrality Natürliche Arbeitslosigkeit Phillips-Kurve Geldpolitik Realzins Europäische Wirtschafts- und Währungsunion Schätzung EU-Staaten |
| Issue Date: | 16-Oct-2013 |
| Publisher: | Deutsches Institut für Wirtschaftsforschung (DIW) Berlin |
| Description: | This paper analyses the Nairu in the Euro Area and the influence that monetary policy had on its development. Using the Kalman-filter technique we find that the Nairu has varied considerably since the early seventies. The Kalman-filter technique is applied here for the first time using explicit exogenous variables. In particular real interest rates were found to explain a quarter of the increase in the Nairu between 1980 and 1995. This indicates the possibility of a long-run non-superneutrality of monetary policy. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/18087 |
| Other Identifiers: | http://hdl.handle.net/10419/18087 ppn:37186268X |
| Appears in Collections: | EconStor |
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