" (NAIRU) for Germany. There are quite a few obstacles to perceiving the NAIRU as an understandable and easy-to-use analytical … occurrence of shocks and hysteresis effects, the (mis-)measurement of important variables such as in ation expectations …, cointegration issues, and a time variability of the NAIRU and its confidence intervals. Despite many serious caveats a new attempt …

natural rate hypothesis or the hysteresis hypothesis. To this end, we employ a variety of unit of unit root testing procedures … findings and confirms hysteresis in all unemployment rates except for Asian economies/countries of Thailand and the Philippines. …

produces a unique long-run NAIRU while the other implies the presence of aspiration-induced hysteresis in the employment rate …The influence of NAIRU theory on economic policy is both puzzling and unfortunate, especially in a European context …. This paper shows that standard rationality assumptions and objective functions may fail to generate a well-defined NAIRU in …

This paper analyses the Nairu in the Euro Area and the influence that hysteresis had on its development. Using the … is applied here using explicit exogenous variables. In order to test for hysteresis, the dependence of the Nairu on … Kalman-filter technique we find that the Nairu has varied considerably since the early seventies. The Kalman-filter technique …