(redirected from Equilibrium Rate of Unemployment)
ERUEmergency Response Unit (Special Irish Police Unit)
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ERUEmission Reduction Unit
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ERUEquilibrium Rate of Unemployment (economics)
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ERUEquine Recurrent Uveitis
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References in periodicals archive ?
However, according to Turner et al (2001) the derived measure of equilibrium unemployment corresponds more closely to a measure of the long-run equilibrium rate of unemployment rather than the NAIRU which commonly appears in reduced-form Phillips curve specifications.
2% estimate of the equilibrium rate of unemployment.
There is also some evidence that the equilibrium rate of unemployment, often referred to as the NAIRU, has increased since the onset of the financial crisis.
Then note that the rate of change of the unemployment rate should be a linear function of the difference between the equilibrium rate of unemployment and the unemployment rate of the previous time period:
The structuralist hypothesis--see Phelps (1994) and Phelps and Zoega (1998)--tries to explain the rise in European unemployment through the adjustment to an underlying equilibrium rate of unemployment which has increased in response to structural factors of the labor market and the economy in general.
Regression I in Table 1 estimates the standard inflation equation with a constant equilibrium rate of unemployment.
Moreover, the equilibrium rate of unemployment may have changed in several instances through time.
Productivity growth, wage setting and the equilibrium rate of unemployment.
To put it another way, the so-called equilibrium rate of unemployment -- that is, the level of unemployment consistent with stable development in prices and wages -- is somewhat lower than the actual unemployment rate.
Within such a framework, it is useful to identify three distinct concepts: the NAIRU (with no qualifying adjective), the short-term NAIRU and the long-term equilibrium rate of unemployment.
t] is the estimated equilibrium rate of unemployment and [MATHEMATICAL EXPRESSION NOT REPRODUCIBLE IN ASCII] is non-modelled employment.
The model in each country is of a natural rate (or NAIRU--non-accelerating inflation rate of unemployment) type with an equilibrium rate of unemployment and out of equilibrium behaviour of the `expectations augmented Phillips curve' type.
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