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All this does not mean there is no natural unemployment rate, only that there is nothing natural about it.
According to Bernanke, the two changes in participants' views that have been "most important in pushing the FOMC in a dovish direction" are the downward revisions in the estimates of the terminal funds rate and the natural unemployment rate.
The results prove our hypothesis the Phillips curve is not vertical in the long run but oscillating (on small scale) about the natural unemployment rate (or in the golden triangle terminology about the golden unemployment node).
5 percent would put the point of the funds rate lift-off well below where six persons on the committee see the natural unemployment rate," JPMorgan economist Michael Feroli wrote in a note to clients, referring to the level of unemployment officials think can be achieved without touching off inflation.
However, they have no response for now to the dilemma of how high the so-called natural unemployment rate in Macedonia is.
The Congressional Budget Office's latest estimate suggests that the natural unemployment rate is between 5.
This research paper tests the natural unemployment rate hypothesis for the United States using a long span of monthly data on the unemployment rate for the period 1950-January through March, 2011 by applying a battery of unit root tests that includes the recent nonlinear and structural break unit root tests.
Unfortunately, potential GDP and the natural unemployment rate are unobservable.
Students of macroeconomic courses learn that for every 1 percent excess of the natural unemployment rate, a 2-3% GDP gap is predicted.
where NAIRCU is the natural rate of capacity utilization and NAIRU is the natural unemployment rate.
The DSGE models make the sums of coefficients depend on the monetary policy rule via cross-equation restrictions of a type that earlier authors, including Lucas and Sargent, emphasized in the context of testing the natural unemployment rate hypothesis.
This study develops a natural unemployment rate based upon education attainment.