inflation and a permanent reduction in the level of unemployment. In short, we derive a microfounded long-run downward …

of unemployment is affected by the inflation rate. Looking at four countries, France, Germany, the Netherlands and … inflation. The particular shape of the empirical relationship supports the view that a moderate level of inflation provides some … of between 0.5% and 1%, and to decline quickly for higher rates of inflation. For the range of inflation rates observed …

This Paper takes a new look at the long-run dynamics of inflation and unemployment in response to permanent changes in …, we construct an empirical model of the Spanish economy and, in this context, we evaluate the long-run inflation …

increase the flexibility of labour markets, they are likely to improve the short-run inflation-unemployment trade … encourage a decline in unemployment in response to good news on inflation can be used to strike a political deal with political … nominal GDP and, surprisingly, an even greater deceleration of inflation, so that their growth rate of real GDP accelerated …

This paper provides evidence for a low frequency relationship between unemployment, inflation and the nominal interest … rate. I show that in the United States from 1959.1 to 1991.3, the unemployment rate, the inflation rate and the federal …

The Paper studies the inflation rate associated with optimal monetary policy in a standard suite of DSGE models, when … is an optimal inflation rate for producer prices in the Calvo model, given by the 'core inflation' process generated by … the indexation rule of the constrained price setters. It is constant only if core inflation is constant. A zero rate of …

inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model that … resolves this apparent micro/macro conflict. Our model is consistent with post-war US evidence on inflation inertia even though …