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      <record key="001" att1="001" value="LIB90973320X" att2="LIB90973320X">001   LIB90973320X</record>
      <field key="037" subkey="x">englisch</field>
      <field key="050" subkey="x">Forschungsbericht</field>
      <field key="076" subkey="">Ökonomie</field>
      <field key="079" subkey="y">http://www.ihs.ac.at/publications/eco/es-33.pdf</field>
      <field key="079" subkey="z">Hahn, Franz - et al., Potential Output, the Natural Rate of Unemployment, and the Phillips Curve in a Multivariate Structural</field>
      <field key="Tim" subkey="e">Series Framework (pdf)</field>
      <field key="079" subkey="y">http://ideas.repec.org/p/ihs/ihsesp/33.html</field>
      <field key="079" subkey="z">Institute for Advanced Studies. Economics Series; 33 (RePEc)</field>
      <field key="100" subkey="">Hahn, Franz</field>
      <field key="103" subkey="">Austrian Institute for Economic Research</field>
      <field key="104" subkey="a">Rünstler, Gerhard</field>
      <field key="107" subkey="">Department of Economics, Institute for Advanced Studies, Vienna</field>
      <field key="331" subkey="">Potential Output, the Natural Rate of Unemployment, and the Phillips Curve in a Multivariate Structural Time Series Framework</field>
      <field key="403" subkey="">1. Ed.</field>
      <field key="410" subkey="">Wien</field>
      <field key="412" subkey="">Institut für Höhere Studien</field>
      <field key="425" subkey="">1996, June</field>
      <field key="433" subkey="">16 pp., Figures</field>
      <field key="451" subkey="">Institut für Höhere Studien; Reihe Ökonomie; 33</field>
      <field key="451" subkey="h">Kunst, Robert M. (Ed.) ; Helmenstein, Christian (Ed.) ; Riedl, Arno (Ed.)</field>
      <field key="461" subkey="">Economics Series</field>
      <field key="544" subkey="">IHSES 33</field>
      <field key="700" subkey="">C22</field>
      <field key="700" subkey="">E30</field>
      <field key="720" subkey="">Structural Time Series Model</field>
      <field key="720" subkey="">Trends and Cycles</field>
      <field key="720" subkey="">Phillips Curve</field>
      <field key="753" subkey="">Abstract: We propose a bivariate structural time series framework to decompose GDP and the unemployment rate into their trend,</field>
      <field key="cyc" subkey="l">ical, and irregular components. We implement Okun's law by a generalised version of the common cycles restriction allowing</field>
      <field key="for" subkey="">a phase shift between the two cycles and add a price-wage block to the system. We estimate by maximum likelihood Phillips</field>
      <field key="cur" subkey="v">e-type equations, where the particular cycles enter the wage and price equations in levels though the trends are modelled as</field>
      <field key="non" subkey="-">stationary stochastic processes. The extended models provide an improved estimate of the current cyclical position, compared</field>
      <field key="to" subkey="u">nivariate estimates and the HP filter.;</field>
    </SEQUENTIAL>
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