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Natural rate estimates differ: By how much?

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  • Bethencourt, Carlos
  • Stadtmann, Georg

Abstract

We examine the natural rate of unemployment estimates of two international organizations (OECD and European Commission) and various release dates. Since estimates differ to a large extent, empirical research results which use natural rate estimates will also vary depending on the data source chosen. We highlight the extend of these effects by focusing on Spain, but also present evidence for several other EU-countries.

Suggested Citation

  • Bethencourt, Carlos & Stadtmann, Georg, 2019. "Natural rate estimates differ: By how much?," Discussion Papers 409, European University Viadrina Frankfurt (Oder), Department of Business Administration and Economics.
    • Handle: RePEc:zbw:euvwdp:409
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    References listed on IDEAS

    as
    1. Fernanda Nechio, 2011. "Monetary policy when one size does not fit all," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue june13.
    2. Athanasios Orphanides, 2001. "Monetary Policy Rules Based on Real-Time Data," American Economic Review, American Economic Association, vol. 91(4), pages 964-985, September.
    3. Croushore, Dean & Stark, Tom, 2001. "A real-time data set for macroeconomists," Journal of Econometrics, Elsevier, vol. 105(1), pages 111-130, November.
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    More about this item

    Keywords

    natural rate; real time data; monetary policy; fiscal policy;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General
    • A23 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Graduate

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