Measuring the NAIRU with Reduced Uncertainty: A Multiple-Indicator Common-Cycle Approach

By Arabinda Basistha, R. Startz. Review of Economics and Statistics, 2008

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Aggregate Supply in the United States: Recent Developments and Implications for the Conduct of Monetary Policy (2015, unknown): “…the economy developed by Fleischman and Roberts (2011); this model in turn builds on earlier work by Blanchard and Quah (1989), Kuttner (1994), and Basistha and Startz (2008).4 In particular, we first define (log) output in terms of the components that comprise an aggregate production…”
What Can the Data Tell Us About the Equilibrium Real Interest Rate (2015, background): “, Basistha and Startz [2008] and Fleischman and Roberts [2011]). Research has also highlighted the importance of a broad array of financial conditions in the business cycle: Gilchrist and Zakrajsek [2012] and Kiley [2014a] document important contributions of credit spreads to output movements (using”
Tracking the Slowdown in Long-Run GDP Growth (2017, background): “36Basistha and Startz (2008) make a similar point, arguing that the inclusion of indicators that are informative about common cycles can help reduce the uncertainty around Kalman filter estimates of the long-run rate of unemployment (NAIRU).”
An Inflation-Predicting Measure of the Output Gap in the Euro Area (2018, background): “We confirm the finding of Valle e Azevedo et al. (2006) and Basistha and Startz (2008) that using multiple real activity indicators increases the reliability of output gap estimates.”