Heimberger, Philipp; Kapeller, Jakob; Schütz, Bernhard - 2016
This paper analyzes the determinants of the European Commission's NAIRU estimates for 14 European OECD countries during … 1985-2012. The NAIRU is a poor proxy for 'structural unemployment': Labor market institutions - employment protection … legislation, union density, tax wedge, minimum wages - underperform in explaining the NAIRU, while cyclical variables - capital …