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Estimation of a Time Varying NAIRU for France

Author

Listed:
  • Irac, D.
Abstract
Among several concepts encompassed by the idea of an equilibrium rate of unemployment (labour mismatch, unemployment trend, non inflationary unemployment, structural unemployment), the NAIRU appears as the most interesting one for a central bank since it focuses directly on inflation. Thus, the paper considers the reduced Phillips equation, assuming a stable relationship between inflation and some kind of demand disequilibrium index, as the most promising starting point to estimate an equilibrium rate of unemployment.

Suggested Citation

  • Irac, D., 2000. "Estimation of a Time Varying NAIRU for France," Working papers 75, Banque de France.
    • Handle: RePEc:bfr:banfra:75
    as

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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Inflation ; NAIRU ; : France ; Kalman filter;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General

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