Prior research has found that people tend to overestimate their relative contributions to joint tasks (e.g., Ross & Sicoly, 1979). In the present research we investigate one of the causes of this bias, and in doing so, identify an important moderator of the effect. In three studies we...

Inflation and unemployment are central issues in macroeconomics. While progress has been made on these issues recently using models that explicitly incorporate search-type frictions, existing models analyze either unemployment or inflation in isolation. We develop a framework to analyze...

Macroeconomic data suggest that the New Keynesian Phillips curve is quite flat - despite microeconomic evidence implying frequent price adjustments. While real rigidities may help to account for the conflicting evidence, we propose an alternative explanation: if price markup/cost-push shocks are...

There has been mounting evidence that the inflation process has been changing. Inflation is now much lower and much more stable around the globe. And its sensitivity to measures of economic slack and increases in input costs appears to have declined. Probably the most widely supported...

This paper explores the influence of inflation on economic growth. In order to match the empirical stylized fact of a threshold level of inflation, beyond which inflation ceases to have a positive impact on growth and begins to harm it, we propose to merge an endogenous growth model of learning...