" (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 …

so that our identification is not affected by the Faust andLeeper (1997) critique. We find widespread hysteresis: demand …-teractions with structural shocks and other institutions as crucial determinantsof hysteresis. …

for 29 countries from the OECD. We find strong evidence of hysteresis: an innovation in u causes u* to change in the same …

" (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 inflation expectations …, cointegration issues, and a time variability of the NAIRU and its confidence intervals. Despite many serious caveats a new attempt …

unemployment (NAIRU) is used. In a first step, the unobservable, exogenous NAIRU is estimated for Germany in a state space setting … the low-pay sector. Finally, by treating the NAIRU as the dependent variable, the impact of the low-wage share is … relationship between the NAIRU and the share of the low-wage sector. This hypothesis is rejected empirically. Indeed, for the time …

Der Beitrag enthält eine Neuschätzung der inflationsstabilen Arbeitslosenquote (NAIRU) für Westdeutschland 1980 bis … 1998. Nach einer Darstellung des konzeptionellen Rahmens der NAIRU einschließlich verschiedener Varianten, welche … Probleme. Erstmalig werden für Westdeutschland dann eine zeitvariable NAIRU mit Hilfe des Kalman-Verfahrens sowie dazugehöriger …

This paper provides new estimates of a time-varying NAIRU for Germany taking account of the structural break caused by … inflation rates is employed. Therefore, either the NAIRU concept is not applicable to Germany or, as it is our suggestion, one … inflation target put forward by the European Central Bank. The estimates presented in this paper suggest that the NAIRU …