NAIRU estimates in a transitional economy with an extremely high unemployment rate: The case of the Republic of Macedonia
The main goal of the paper is to estimate the NAIRU for the Macedonian economy and to discuss the applicability of this indicator. The paper provides time-varying estimates for the period 1998-2012, which are obtained using the Ball and Mankiw (2002) approach, supplemented with the iterativ...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Faculty of Economics, Belgrade
2015-01-01
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| Series: | Ekonomski Anali |
| Subjects: | |
| Online Access: | http://www.doiserbia.nb.rs/img/doi/0013-3264/2015/0013-32641506167T.pdf |
| _version_ | 1818504479992971264 |
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| author | Trpeski Predrag Tevdovski Dragan |
| author_facet | Trpeski Predrag Tevdovski Dragan |
| author_sort | Trpeski Predrag |
| collection | DOAJ |
| description | The main goal of the paper is to estimate the NAIRU for the Macedonian
economy and to discuss the applicability of this indicator. The paper
provides time-varying estimates for the period 1998-2012, which are obtained
using the Ball and Mankiw (2002) approach, supplemented with the iterative
procedure proposed by Ball (2009). The results reveal that the Macedonian
NAIRU has ahumpshaped path. The estimation is based on both the LFS
unemployment rate and the LFS unemployment rate corrected for employment in
the grey economy. The dynamics of the estimated NAIRU stress the ability of
the NAIRU to present the cyclical misbalances in a national economy. |
| first_indexed | 2024-12-10T21:37:38Z |
| format | Article |
| id | doaj.art-105797d2c15b4a24a50de7febcc28b46 |
| institution | Directory Open Access Journal |
| issn | 0013-3264 1820-7375 |
| language | English |
| last_indexed | 2024-12-10T21:37:38Z |
| publishDate | 2015-01-01 |
| publisher | Faculty of Economics, Belgrade |
| record_format | Article |
| series | Ekonomski Anali |
| spelling | doaj.art-105797d2c15b4a24a50de7febcc28b462022-12-22T01:32:35ZengFaculty of Economics, BelgradeEkonomski Anali0013-32641820-73752015-01-016020616718610.2298/EKA1506167T0013-32641506167TNAIRU estimates in a transitional economy with an extremely high unemployment rate: The case of the Republic of MacedoniaTrpeski Predrag0Tevdovski Dragan1University Ss. Cyril and Methodius in Skopje, Faculty of economic, Skopje, Republic of MacedoniaUniversity Ss. Cyril and Methodius in Skopje, Faculty of economic, Skopje, Republic of MacedoniaThe main goal of the paper is to estimate the NAIRU for the Macedonian economy and to discuss the applicability of this indicator. The paper provides time-varying estimates for the period 1998-2012, which are obtained using the Ball and Mankiw (2002) approach, supplemented with the iterative procedure proposed by Ball (2009). The results reveal that the Macedonian NAIRU has ahumpshaped path. The estimation is based on both the LFS unemployment rate and the LFS unemployment rate corrected for employment in the grey economy. The dynamics of the estimated NAIRU stress the ability of the NAIRU to present the cyclical misbalances in a national economy.http://www.doiserbia.nb.rs/img/doi/0013-3264/2015/0013-32641506167T.pdfNAIRUunemploymentinflationMacedonia |
| spellingShingle | Trpeski Predrag Tevdovski Dragan NAIRU estimates in a transitional economy with an extremely high unemployment rate: The case of the Republic of Macedonia Ekonomski Anali NAIRU unemployment inflation Macedonia |
| title | NAIRU estimates in a transitional economy with an extremely high unemployment rate: The case of the Republic of Macedonia |
| title_full | NAIRU estimates in a transitional economy with an extremely high unemployment rate: The case of the Republic of Macedonia |
| title_fullStr | NAIRU estimates in a transitional economy with an extremely high unemployment rate: The case of the Republic of Macedonia |
| title_full_unstemmed | NAIRU estimates in a transitional economy with an extremely high unemployment rate: The case of the Republic of Macedonia |
| title_short | NAIRU estimates in a transitional economy with an extremely high unemployment rate: The case of the Republic of Macedonia |
| title_sort | nairu estimates in a transitional economy with an extremely high unemployment rate the case of the republic of macedonia |
| topic | NAIRU unemployment inflation Macedonia |
| url | http://www.doiserbia.nb.rs/img/doi/0013-3264/2015/0013-32641506167T.pdf |
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