Zhao, Hongmei; Hogan, Vincent - In: Frontiers of Economics in China 6 (2011) 1, pp. 76-91
This paper calculates the NAIRU for the US in a framework that allows inflation and unemployment to be jointly … endogenous. We define the NAIRU as being the component of actual unemployment that is uncorrelated with inflation in the long run …. We use a structural VAR to estimate the NAIRU and core inflation simultaneously and with greater precision than most of …