Arbeitspapier
Measuring The UK Short-Run NAIRU
This paper derives alternative measures of the short-run NAIRU (SRN) for the UK, the rate for unemployment at which inflation will neither increase nor decrease in the short-run. We estimate the NAIRU jointly with price equations by using the Kalman filter. Our work suggests that both structural changes in the labour market and favourable supply shocks may have had a beneficial impact on RPIX inflation over the last few years. We show that deviations of unemployment from the short-run NAIRU measures prove helpful in predicting inflation and we demonstrate their usefulness in Taylor-type policy rules for the interest rate.
- Sprache
-
Englisch
- Erschienen in
-
Series: External MPC Unit Discussion Paper ; No. 12
- Klassifikation
-
Wirtschaft
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Batini, Nicoletta
Greenslade, Jennifer
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of England, External Monetary Policy Committee Unit
- (wo)
-
London
- (wann)
-
2003
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Batini, Nicoletta
- Greenslade, Jennifer
- Bank of England, External Monetary Policy Committee Unit
Entstanden
- 2003
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