Estimation of Non-Accelerating Inflation Rate of Unemployment in the Czech Republic and Slovakia 
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Odhady míry nezaměstnanosti neakcelerující inflaci v České republice a na Slovensku
Estimation of Non-Accelerating Inflation Rate of Unemployment in the Czech Republic and Slovakia

Author(s): Emilie Jašová
Subject(s): Economy
Published by: Ekonomický ústav SAV a Prognostický ústav SAV
Keywords: NAIRU; Phillips curve; One-equation model; Break model; HP filter; Kalman filter

Summary/Abstract: The intention of this analysis is mapping variability of the NAIRU because of different methods and application methods on data two different countries. We aim at detection and analysing instable condition with structural shifts, which lead to changes in development of the NAIRU in researched countries. On the end of the paper we use experience to prediction of development of the NAIRU in short future. In article are suggested some steps, which should increase applica-bility of the concept NAIRU for discussion macroeconomic policies. For the estimation of the NAIRU development, the slope and the shift of the Phillips curve we applied the system of the methods which are commonly used at the international level. The figure of NAIRU can be investigated as a dependent variable during the research time period. Main factors causing the greatest changes of NAIRU or its fluctuations are apart from the inflation expectations themselves also: import prices, exchange rate, prices of oil and indirect taxes.

  • Issue Year: 59/2011
  • Issue No: 04
  • Page Range: 368-391
  • Page Count: 24
  • Language: Czech