Measuring Structural Unemployment: NAWRU Estimates in the Nordic Countries
AbstractThe non-accelerating wage rate of unemployment (NAWRU indicator), used by the OECD as a measure of structural unemployment, has risen for the four Nordic countries Denmark, Finland, Norway and Sweden. In this paper we present stable empirical wage equations for the same countries over the period 1964-1994, in sharp contrast to the increased NAWRU estimates. The instability of the NAWRU estimates is an artifact of a misspecified underlying wage equation, and not due to instability in wage setting itself. Copyright 2002 by The editors of the Scandinavian Journal of Economics.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.
Volume (Year): 104 (2002)
Issue (Month): 1 ()
Contact details of provider:
Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Niels Framroze Møller, 2013. "Understanding Unemployment Hysteresis: A system-based econometric approach to changing equilibria and slow adjustment," Discussion Papers 13-06, University of Copenhagen. Department of Economics.
- Douglas Staiger & James H. Stock & Mark W. Watson, 2001. "Prices, Wages and the U.S. NAIRU in the 1990s," NBER Working Papers 8320, National Bureau of Economic Research, Inc.
- Bårdsen, Gunnar & Nymoen, Ragnar, 2006. "U.S. natural rate dynamics reconsidered," Memorandum 13/2006, Oslo University, Department of Economics.
- Lindblad, Hans & Sellin, Peter, 2003. "The Equilibrium Rate of Unemployment and the Real Exchange Rate: An Unobserved Components System Approach," Working Paper Series 152, Sveriges Riksbank (Central Bank of Sweden).
- Marika Karanassou & Hector Sala & Pablo F. Salvador, 2008.
"The (Ir)Relevance Of The Nru For Policy Making: The Case Of Denmark,"
Scottish Journal of Political Economy,
Scottish Economic Society, vol. 55(3), pages 369-392, 07.
- Karanassou, Marika & Sala, Hector & Salvador, Pablo F., 2006. "The (Ir)relevance of the NRU for Policy Making: The Case of Denmark," IZA Discussion Papers 2397, Institute for the Study of Labor (IZA).
- Dobrescu, Emilian, 2006. "Integration of macroeconomic behavioural relationships and the input-output block: Romanian modelling experience," MPRA Paper 35748, University Library of Munich, Germany.
- Gunnar Bårdsen & Ragnar Nymoen, 2000.
"Testing Steady-State Implications for the NAIRU,"
Working Paper Series
1602, Department of Economics, Norwegian University of Science and Technology, revised 30 Apr 2002.
- Kees Folmer, 2009. "Why do macro wage elasticities diverge? A meta analysis," CPB Discussion Paper 122, CPB Netherlands Bureau for Economic Policy Analysis.
- Anders Forslund & Nils Gottfries & Andreas Westermark, 2006.
"Real and Nominal Wage Adjustment in Open Economies,"
CESifo Working Paper Series
1649, CESifo Group Munich.
- Forslund, Anders & Gottfries, Nils & Westermark, Andreas, 2005. "Real and nominal wage adjustment in open economies," Working Paper Series 2005:23, IFAU - Institute for Evaluation of Labour Market and Education Policy.
- Forslund, Anders & Gottfries, Nils & Westermark, Andreas, 2005. "Real and Nominal Wage Adjustment in Open Economies," Working Paper Series 2005:18, Uppsala University, Department of Economics.
- Dobrescu, Emilian, 2006. "Macromodel of the Romanian market economy (version 2005)," MPRA Paper 35749, University Library of Munich, Germany.
- Marika Karanassou & Hector Sala & Pablo F. Salvador, 2006. "The (Ir)relevance of the NRU for Policy Making: The Case of Denmark," Working Papers 580, Queen Mary, University of London, School of Economics and Finance.
- Holmlund, Bertil, 2003.
"The Rise and Fall of Swedish Unemployment,"
Working Paper Series
2003:13, Uppsala University, Department of Economics.
- Barkbu,B.B. & Nymoen,R. & Roed,K., 2001.
"Wage coordination and unemployment dynamics in Norway and Sweden,"
11/2001, Oslo University, Department of Economics.
- Barkbu, Bergljot Bjornson & Nymoen, Ragnar & Roed, Knut, 2003. "Wage coordination and unemployment dynamics in Norway and Sweden," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 32(1), pages 37-58, March.
- Jaakko Pehkonen & Hector Sala & Pablo F. Salvador, 2011. "The Nordic experience revisited: labour market booms and slumps since the 1990s in Finland and Sweden," Journal of Economic Studies, Emerald Group Publishing, vol. 38(1), pages 52-65, January.
- Aki Kangasharju & Sanna-Mari Hynninen & Jaakko Pehkonen, 2006.
"Regional Matching Frictions and Aggregate Unemployment,"
383, Government Institute for Economic Research Finland (VATT).
- Sanna-Mari Hynninen & Aki Kangasharju & Jaakko Pehkonen, 2006. "Regional Matching Frictions and Aggregate Unemployment," ERSA conference papers ersa06p416, European Regional Science Association.
- Kees Folmer, 2009. "Why do macro wage elasticities diverge?," CPB Memorandum 224, CPB Netherlands Bureau for Economic Policy Analysis.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.