IDEAS home Printed from https://ideas.repec.org/a/prg/jnlpol/v2011y2011i4id802p508-525.html
   My bibliography  Save this article

Analýza ukazatele NAIRU na sektorové úrovni
[Analysis of the Indicator NAIRU on the Sector Level]

Author

Listed:
  • Božena Kadeřábková
  • Emilie Jašová

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.

Suggested Citation

  • Božena Kadeřábková & Emilie Jašová, 2011. "Analýza ukazatele NAIRU na sektorové úrovni [Analysis of the Indicator NAIRU on the Sector Level]," Politická ekonomie, Prague University of Economics and Business, vol. 2011(4), pages 508-525.
    • Handle: RePEc:prg:jnlpol:v:2011:y:2011:i:4:id:802:p:508-525
    DOI: 10.18267/j.polek.802
    as

    Download full text from publisher

    File URL: http://polek.vse.cz/doi/10.18267/j.polek.802.html
    Download Restriction: free of charge
    File URL: http://polek.vse.cz/doi/10.18267/j.polek.802.pdf
    Download Restriction: free of charge
    File URL: https://libkey.io/10.18267/j.polek.802?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Laurence Ball & Robert Moffitt, 2001. "Productivity Growth and the Phillips Curve," NBER Working Papers 8421, National Bureau of Economic Research, Inc.
    2. Mankiw, N Gregory, 2001. "The Inexorable and Mysterious Tradeoff between Inflation and Unemployment," Economic Journal, Royal Economic Society, vol. 111(471), pages 45-61, May.
    3. 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.
    4. Silvia Fabiani & Ricardo Mestre, 2004. "A system approach for measuring the euro area NAIRU," Empirical Economics, Springer, vol. 29(2), pages 311-341, May.
    5. Robert Gordon, 1995. "Problems in the Measurement and Performance of Service-Sector Productivity in the United States," RBA Annual Conference Volume (Discontinued), in: Palle Andersen & Jacqueline Dwyer & David Gruen (ed.),Productivity and Growth, Reserve Bank of Australia.
    6. Mr. Jaromir Benes & Mr. Papa M N'Diaye, 2004. "A Multivariate Filter for Measuring Potential Output and the NAIRU Application to the Czech Republic," IMF Working Papers 2004/045, International Monetary Fund.
    7. Ángel Estrada & Ignacio Hernando & J. David López-Salido, 2000. "Measuring the NAIRU in the Spanish Economy," Working Papers 0009, Banco de España.
    8. Campbell Leith & Jim Malley, 2007. "A Sectoral Analysis of Price-Setting Behavior in U.S. Manufacturing Industries," The Review of Economics and Statistics, MIT Press, vol. 89(2), pages 335-342, May.
    9. 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.
    10. James Tobin & Sergio Parrinello & Paolo Sylos Labini, 1999. "Supply Constraints on Employment and Output: NAIRU Versus Natural Rate," Palgrave Macmillan Books, in: Giancarlo Gandolfo & Ferruccio Marzano (ed.), Economic Theory and Social Justice, chapter 1, pages 35-62, Palgrave Macmillan.
    11. Vladimir Bezdek & Kamil Dybczak & Ales Krejdl, 2003. "Czech Fiscal Policy: Introductory Analysis," Working Papers 2003/07, Czech National Bank.
    12. P. McAdam & K. Mc Morrow, 1999. "The NAIRU Concept - Measurement uncertainties, hysteresis and economic policy role," European Economy - Economic Papers 2008 - 2015 136, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    13. Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, December.
    14. Fabiani, Silvia & Mestre, Ricardo, 2000. "Alternative measures of the NAIRU in the euro area: estimates and assessment," Working Paper Series 17, European Central Bank.
    15. Franco Modigliani & Lucas Papademos, 1975. "Targets for Monetary Policy in the Coming Year," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 6(1), pages 141-166.
    16. William S. Brown, 1988. "Institutional Structure and Deindustrialization," Journal of Economic Issues, Taylor & Francis Journals, vol. 22(2), pages 589-597, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Emilie Jašová & Božena Kaderábková, 2012. "Comparing NAIRU and Economic Cycle from the Perspective of Labour Market in the Countries of the Visegrad Group," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 3-23.
    2. Bozena Kaderabkova & Emilie Jasova & Robert Holman, 2020. "Analysis of substitution changes in the Phillips curve in V4 countries over the course of economic cycles," International Journal of Economic Sciences, International Institute of Social and Economic Sciences, vol. 9(2), pages 39-54, December.
    3. Emilie Jašová & Klára Čermáková & Božena Kadeřábková & Pavel Procházka, 2016. "Působení institucionálních faktorů na strukturální a cyklickou nezaměstnanost v zemích Visegrádské skupiny [Influence of Institutional Factors on Structural and Cyclical Unemployment in the Countri," Politická ekonomie, Prague University of Economics and Business, vol. 2016(1), pages 34-50.
    4. Emilie Jašová, 2009. "Similarities and Differences in Development of Non-Accelerating Inflation Rate of Unemployment and Economic Cycle in Selected Countries in Central Europe by 2008 [Podobnosti a rozdíly ve vývoji mír," Současná Evropa, Prague University of Economics and Business, vol. 2009(1), pages 35-51.
    5. Bo?ena Kade?ábková & Emilie Ja?ová, 0000. "Phillips curve during the economic cycle in the Czech Republic and Poland in the years 2000 to 2016," Proceedings of Economics and Finance Conferences 11413218, International Institute of Social and Economic Sciences.
    6. Bozena Kaderabkova, 2016. "Development of the economic cycle on labour market in the national economy and industry of the Czech Republi," Proceedings of Business and Management Conferences 4407037, International Institute of Social and Economic Sciences.
    7. Bo?ena Kade?ábková & Emilie Ja?ová, 2021. "How the Czech government got the pandemic wrong," Proceedings of Economics and Finance Conferences 12513377, International Institute of Social and Economic Sciences.
    8. Gómez García, F. & Rebollo Sanz, Y. & Usabiaga Ibáñez, C., 2002. "Nuevas estimaciones de la NAIRU de la economía española: métodos directos," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 20, pages 509-530, Diciembre.
    9. Emilie Jasova, 2014. "A Model for Estimation of NAIRU Extended by Demand Shocks and its Application to Business Cycle Analysis in the Labour Market in Hungary and Poland," Proceedings of Economics and Finance Conferences 0401788, International Institute of Social and Economic Sciences.
    10. Beissinger, Thomas, 2003. "Strukturelle Arbeitslosigkeit in Europa : eine Bestandsaufnahme (Structural unemployment in Europe * an inventory)," Mitteilungen aus der Arbeitsmarkt- und Berufsforschung, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 36(4), pages 411-427.
    11. Łukasz Arendt, 2005. "Próba oszacowania NAIRU dla Polski," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 5-6, pages 1-23.
    12. Beissinger, Thomas, 2003. "Strukturelle Arbeitslosigkeit in Europa : eine Bestandsaufnahme (Structural unemployment in Europe * an inventory)," Mitteilungen aus der Arbeitsmarkt- und Berufsforschung, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 36(4), pages 411-427.
    13. Lucas Papademos, 2005. "Macroeconomic theory and monetary policy: the contributions of Franco Modigliani and the ongoing debate," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 58(233-234), pages 187-214.
    14. Bazhal, Iurii, 2015. "Impact of Wage Policy on Economic Growth in Transitive Countries and New Interpretation of the Phillips Curve," MPRA Paper 67106, University Library of Munich, Germany, revised 07 Oct 2015.
    15. Linzert, Tobias, 2005. "The Unemployment Inflation Trade-Off in the Euro Area," IZA Discussion Papers 1699, Institute of Labor Economics (IZA).
    16. Valerija Botric, 2012. "NAIRU estimates for Croatia," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 30(1), pages 163-180.
    17. Beissinger, Thomas, 2003. "Strukturelle Arbeitslosigkeit in Europa: Eine Bestandsaufnahme," University of Regensburg Working Papers in Business, Economics and Management Information Systems 389, University of Regensburg, Department of Economics.
    18. Federico Favaretto & Donato Masciandaro, 2014. "Behavioral Economics and Monetary Policy," BAFFI CAREFIN Working Papers 1501, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    19. Antonella Palumbo, 2008. "I metodi di stima del PIL potenziale tra fondamenti di Teoria economica e Contenuto empirico," Departmental Working Papers of Economics - University 'Roma Tre' 0092, Department of Economics - University Roma Tre.
    20. Farzana Shaheen & Azad Haider & Sajid Amin Javed, 2011. "Estimating Pakistan's Time Varying Non-Accelerating Inflation Rate of Unemployment: An Unobserved Component Approach," International Journal of Economics and Financial Issues, Econjournals, vol. 1(4), pages 172-179.

    More about this item

    Keywords

    rate of unemployment in the national economy; NAIRU; HP filter and business cycle;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prg:jnlpol:v:2011:y:2011:i:4:id:802:p:508-525. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Stanislav Vojir (email available below). General contact details of provider: https://edirc.repec.org/data/uevsecz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.