Fitzenberger, Bernd; Franz, Wolfgang; Bode, Oliver - In: Journal of Economics and Statistics (Jahrbuecher fuer … 228 (2008) 5+6, pp. 465-496
This paper provides new estimates of a time-varying NAIRU for Germany taking account of the structural break caused by … Phillips curve, the sumof coefficients associated with expected inflation is far below unity, whatever measure of expected … inflation rates is employed. Therefore, either the NAIRU concept is not applicable to Germany or, as it is our suggestion, one …