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Similarities and Differences in Development of Non-Accelerating Inflation Rate of Unemployment and Economic Cycle in Selected Countries in Central Europe by 2008

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  • Emilie Jašová
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    Abstract

    For the estimation of the NAIRU´s development, the slope and the shift of the Phillips curve was applied the system of the methods which are commonly used at the international level. Main contribution of this study is to summarize methods and to compare results for selected countries in the centre of the Europe. The figure of NAIRU can be investigated as a dependent variable during the research time period. Main factors causing the greatest changes of NAIRU or its fluctuations are apart from the inflation expectations themselves also: import prices, exchange rate, prices of oil and indirect taxes.

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    Bibliographic Info

    Article provided by University of Economics, Prague in its journal Současná Evropa.

    Volume (Year): 2009 (2009)
    Issue (Month): 1 ()
    Pages: 35-51

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    Handle: RePEc:prg:jnlsev:v:2009:y:2009:i:1:id:61:p:35-51

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    Related research

    Keywords: Phillips curve; NAIRU; Break Model; Hodrick-Prescott Filter; Kalman Filter; Bargaining Model; Phillipsova křivka; NAIRU; Break model; Hodrick-Prescottův filtr; Kalmanův filtr; Bargaining model;

    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Mankiw, N Gregory, 2001. "The Inexorable and Mysterious Tradeoff between Inflation and Unemployment," Economic Journal, Royal Economic Society, vol. 111(471), pages C45-61, May.
    2. George A. Akerlof & William R. Dickens & George L. Perry, 1996. "The Macroeconomics of Low Inflation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 27(1), pages 1-76.
    3. 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.
    4. James Tobin, 1980. "Stabilization Policy Ten Years After," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 11(1, Tenth ), pages 19-90.
    5. Robert J. Gordon, 1997. "The Time-Varying NAIRU and Its Implications for Economic Policy," Journal of Economic Perspectives, American Economic Association, vol. 11(1), pages 11-32, Winter.
    6. Fabiani, Silvia & Mestre, Ricardo, 2001. "A system approach for measuring the euro area NAIRU," Working Paper Series 0065, European Central Bank.
    7. Gordon, Robert J, 1990. "What Is New-Keynesian Economics?," Journal of Economic Literature, American Economic Association, vol. 28(3), pages 1115-71, September.
    8. Basistha, Arabinda & Nelson, Charles R., 2007. "New measures of the output gap based on the forward-looking new Keynesian Phillips curve," Journal of Monetary Economics, Elsevier, vol. 54(2), pages 498-511, March.
    9. Fabiani, Silvia & Mestre, Ricardo, 2000. "Alternative measures of the NAIRU in the euro area: estimates and assessment," Working Paper Series 0017, European Central Bank.
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