|
EconStor >
Deutsches Institut für Wirtschaftsforschung (DIW), Berlin >
DIW-Diskussionspapiere >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/18087
|
| | |
| Title: | | Time-varying Nairu and real interest rates in the Euro Area  |
| Authors: | | Logeay, Camille Tober, Silke |
| Issue Date: | | 2003 |
| Series/Report no.: | | DIW-Diskussionspapiere 351 |
| Abstract: | | This paper analyses the Nairu in the Euro Area and the influence that monetary policy had on its development. Using the Kalman-filter technique we find that the Nairu has varied considerably since the early seventies. The Kalman-filter technique is applied here for the first time using explicit exogenous variables. In particular real interest rates were found to explain a quarter of the increase in the Nairu between 1980 and 1995. This indicates the possibility of a long-run non-superneutrality of monetary policy. |
| Subjects: | | Nairu Monetary Policy Kalman Filter Phillips curve Superneutrality |
| JEL: | | E32 C32 E52 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des DIW DIW-Diskussionspapiere
|
| Files in This Item:
| |
| File |
Description |
Size | Format |
| dp351.pdf | | 297.52 kB | Adobe PDF |
|
| No. of Downloads:
| |
| last Month |
last 3 Month |
total |
|
|
|
|
|
| |
| | |
Download bibliographical data as:
BibTeX
|
| |
Share on:http://hdl.handle.net/10419/18087
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|