This study examines the variation in the premium implicit in the yield curve of 12-month Treasury Bills during the period 1992–2002. This premium is measured using a number of econometric methods, one of which allows for the estimated premium to react to uncertainty as measured by the variance...

We use a state space model to estimate a time-varying Non-Accelerating Inflation Rate of Unemployment (NAIRU) for Israel for the period 1992–2013. The NAIRU is an unobserved variable and can be estimated by the Kalman filter, exploiting the assumed relationship between the NAIRU and several...