Graham, Liam; Snower, Dennis J. - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2008
Keywords: inflation, unemployment, Phillips curve, nominal inertia, monetary policy,
dynamic general equilibrium … increases in their NAIRUs.
Ball (1999) suggests that such a relationship may be due to monetary policy:
countries with … optimal
monetary policy. For Woodford (2003) cycling between di�erent types of labour
is the key distortion which leads to a …