EMI (1997) “The single monetary policy in stage three: elements of the monetary policy strategy”. Estrella, A. and F. Mishkin (1998), “Rethinking the role of NAIRU in Monetary policy: the implications of model formulation and uncertainty”, Federal Reserve Bank of New York. European Commission (2014), “The production function methodology for calculating potential growth rates & output gaps”, Economic Papers 535, page 7.
European Commission (2015), “Structural unemployment vs. NAWRU: implications for the assessment of the cyclical position and the fiscal stance”, Economic Papers 552. European Commission (2017), “NAWRU estimation using structural labour Market indicators” Discussion Paper 069. Farmer, R. (2013), “The Natural Rate Hypothesis: An idea past its sell-by date”, NBER Working Paper No.