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Analysis of the Indicator NAIRU on the Sector Level

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  • Božena Kadeřábková
  • Emilie Jašová
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    Abstract

    The economic development points out the importance of the development study of sectors and branches of economics, because they can deepen or moderate volatility of the economic cycle. The article aims at mapping the rate of unemployment in the primary, secondary and tertiary sector in the Czech Republic. With using the HP filter we estimate NAIRU. The comparison of the actual rate of unemployment with the average value NAIRU was used for the specification of the economic cycle. We compare the rate of unemployment, NAIRU and unemployment gaps in sectors with the average value on the national level too.

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    Bibliographic Info

    Article provided by University of Economics, Prague in its journal Politická ekonomie.

    Volume (Year): 2011 (2011)
    Issue (Month): 4 ()
    Pages: 508-525

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    Handle: RePEc:prg:jnlpol:v:2011:y:2011:i:4:id:802:p:508-525

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    Related research

    Keywords: rate of unemployment in the national economy; NAIRU; HP filter and business cycle;

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    References

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    1. N. Gregory Mankiw, 2000. "The Inexorable and Mysterious Tradeoff Between Inflation and Unemployment," Harvard Institute of Economic Research Working Papers 1905, Harvard - Institute of Economic Research.
    2. Laurence Ball & Robert Moffitt, 2001. "Productivity Growth and the Phillips Curve," NBER Working Papers 8421, National Bureau of Economic Research, Inc.
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    11. Pete Richardson & Laurence Boone & Claude Giorno & Mara Meacci & David Rae & David Turner, 2000. "The Concept, Policy Use and Measurement of Structural Unemployment: Estimating a Time Varying NAIRU Across 21 OECD Countries," OECD Economics Department Working Papers 250, OECD Publishing.
    12. James Tobin, 1997. "Supply Constraints on Employment and Output: NAIRU Versus Natural Rate," Cowles Foundation Discussion Papers 1150, Cowles Foundation for Research in Economics, Yale University.
    13. Ángel Estrada & Ignacio Hernando & J. David López-Salido, 2000. "Measuring the NAIRU in the Spanish Economy," Banco de Espa�a Working Papers 0009, Banco de Espa�a.
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