Karanassou, Marika; Sala, Hector; Snower, Dennis J. - School of Economics, UNSW Business School - 2008
, frictional
growth, inflation-unemployment tradeoff,inflation dynamics, unemployment dy-
namics, impulse response function.
JEL ….
The chain reactions are described in terms of impulse-response functions (IRFs). The
long-run unemployment rate may be … lines,
the real GDP impulse response function estimated by Bernanke and Mihov (1998) does
not converge to zero (albeit the …