The relationship between inflation and unemployment was first introduced in 1958 by Phillips who found a negative relationship between unemployment and money wage growth in the UK. However, this relationship appeared to become unstable in many countries over the 1970s. This paper investigates...

This article investigates the dynamics of aggregate wages and prices in the United States (US) and the Euro Area (EA) with a special focus on persistence of real wages, wage and price inflation. The analysis is conducted within a structural vector error-correction model, where the structural...

Forecasting poverty in the future is mostly a matter of forecasting economic growth. The objective of the study is to examine the inter-temporal link between growth and poverty in Pakistan, over the next 25years period i.e., from the years 2011 to 2035. The generalized version of variance...

This paper analyses the response of inflation in the euro area to five macroeconomic shocks through the use of results derived from Eurosystem large-scale macroeconomic models. The main finding is that only a fiscal shock, and to a lesser extent a TFP shock, generate marked inflation...