| dc.creator |
Logeay, Camille |
|
| dc.creator |
Tober, Silke |
|
| dc.date |
2003 |
|
| dc.date.accessioned |
2013-10-16T06:58:11Z |
|
| dc.date.available |
2013-10-16T06:58:11Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
http://hdl.handle.net/10419/18087 |
|
| dc.identifier |
ppn:37186268X |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/18087 |
|
| dc.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. |
|
| dc.language |
eng |
|
| dc.publisher |
Deutsches Institut für Wirtschaftsforschung (DIW) Berlin |
|
| dc.relation |
DIW-Diskussionspapiere 351 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
E32 |
|
| dc.subject |
C32 |
|
| dc.subject |
E52 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
Nairu |
|
| dc.subject |
Monetary Policy |
|
| dc.subject |
Kalman Filter |
|
| dc.subject |
Phillips curve |
|
| dc.subject |
Superneutrality |
|
| dc.subject |
Natürliche Arbeitslosigkeit |
|
| dc.subject |
Phillips-Kurve |
|
| dc.subject |
Geldpolitik |
|
| dc.subject |
Realzins |
|
| dc.subject |
Europäische Wirtschafts- und Währungsunion |
|
| dc.subject |
Schätzung |
|
| dc.subject |
EU-Staaten |
|
| dc.title |
Time-varying Nairu and real interest rates in the Euro Area |
|
| dc.type |
doc-type:workingPaper |
|
| dc.coverage |
1980-1995 |
|