This paper extends the multivariate filter approach for estimating potential output and NAIRU developed for Türkiye by … estimates of NAIRU in recession periods compared to estimates without a capacity utilization block. In addition, applying an …

The NAIRU is a key component of potential output and as such critically affects output gap estimates. In May 2014, the … European Commission changed its specification of the NAIRU for several countries and lowered its NAIRU estimates - in the case … of Spain from 26.6% to 20.7% for 2015. To test the dependence of the new NAIRU on unemployment versus structural factors …