Read full paper at: http://www.scirp.org/journal/PaperInformation.aspx?PaperID=50231#.VDIsmVfHRK0 Author(s) Michael Shannon , Bakhtiar Moazzami Affiliation(s) Department of Economics, Lakehead University, Thunder Bay, Canada . ABSTRACT Bai and Perron’s method for detecting multiple, unknown structural breaks is used to estimate natural rates of unemployment for 19 OECD countries from 1955-2011. Natural rates are lowest in the early period, then, rise in the mid-1970s and early-1980s in most countries. Several countries see declines in the late-1990s or early-2000s. KEYWORDS Natural Rate , NAIRU , Unemployment , Structural Break ...
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