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The US Inflation-Unemployment Tradeoff: Methodological Issues and Further Evidence

Karanassou, Marika; Sala, Hector - Institute for the Study of Labor (IZA) - 2009

chain reactions, and provides new evidence on the long-run inflation-unemployment tradeoff in the US. It is argued that … inflation/unemployment responses to money growth shocks. SVAR (structural vector autoregression) and GMM (generalised method of … and real sides of the economy are symbiotic. In the light of the significant and robust long-run inflation …

Persistent link: https://www.econbiz.de/10005030883

Unemployment in the European Union: A Dynamic Reappraisal

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2002

This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain-reaction perspective, in which unemployment movements are...

Persistent link: https://www.econbiz.de/10005703234

Unemployment in the European Union: Institutions, Prices, and Growth

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2003

This paper presents a reappraisal of unemployment movements in the European Union. Our analysis is based on the chain reaction theory of unemployment, which focuses on (a) the interaction among labor market adjustment processes, (b) the interplay between these adjustment processes and the...

Persistent link: https://www.econbiz.de/10005703238

A Reappraisal of the Inflation-Unemployment Tradeoff

Snower, Dennis; Karanassou, Marika; Sala, Hector - Institute for the Study of Labor (IZA) - 2002

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth" describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation, and …

Persistent link: https://www.econbiz.de/10005761764

The European Phillips Curve: Does the NAIRU Exist?

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2003

model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …

Persistent link: https://www.econbiz.de/10005566739

Oil Price Shocks and Labor Market Fluctuations

Ordóñez, Javier; Sala, Hector; Silva, José I. - Institute for the Study of Labor (IZA) - 2010

We examine the impact of real oil price shocks on labor market flows in the U.S. We first use smooth transition regression (STR) models to investigate to what extent oil prices can be considered as a driving force of labor market fluctuations. Then we develop and calibrate a modified version of...

Persistent link: https://www.econbiz.de/10008548709