Structural and reduced approaches of the equilibrium rate of unemployment, a comparison between France and the United States - Archive ouverte HAL Access content directly
Journal Articles Economic Modelling Year : 2007

Structural and reduced approaches of the equilibrium rate of unemployment, a comparison between France and the United States

(1) , , (1)
1

Abstract

This paper confronts, theoretically and empirically, two estimation methods for the Equilibrium Rate of Unemployment (ERU), which can be derived from a WS/PS model or from a wage Phillips curve. It shows how the TV-NAIRU reduced approach can be theoretically coherent with the structural approach even though their empirical diagnoses differ appreciably in the French case. It considerably improves the econometric and explanatory properties of the French TV-NAIRU model by identifying some of its determinants (namely, inflation, labour productivity and real interest rates).
Not file

Dates and versions

hal-03415930 , version 1 (05-11-2021)

Identifiers

  • HAL Id : hal-03415930 , version 1
  • SCIENCESPO : 2441/1906

Cite

Eric Heyer, Frédéric Reynés, Henri Sterdyniak. Structural and reduced approaches of the equilibrium rate of unemployment, a comparison between France and the United States. Economic Modelling, 2007, 24 (1), pp.42 - 65. ⟨hal-03415930⟩

Collections

SCIENCESPO OFCE
5 View
0 Download

Share

Gmail Facebook Twitter LinkedIn More