unemployment response; and the very slow rate of recovery. We review the literature which finds most of the decline in productivity … intensification but employers appeared incapable of turning this effort into improved workplace level productivity. Widespread pay …

/EU productivity gap. We find robust evidence that US firms have a higher capacity to translate R&D into productivity gains (especially … in the high-tech industries), and this contributes to explaining the higher productivity of US firms. Conversely, EU … firms are more likely to achieve productivity gains through capital-embodied technological change at least in medium and low …

labour productivity, and demographics, succeed in explaining a great part of the changes in unemployment in both countries …

productivity shocks. Overall we conclude that shocks in oil prices cannot be neglected in explaining cyclical labor adjustments in …

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 …

This paper analyses the relation between US inflation and unemployment from the perspective of quot;frictional growth … policy has not only persistent, but permanent real effects, giving rise to a long-run inflation-unemployment tradeoff. We … evaluate this tradeoff empirically and assess the impact of productivity, money growth, budget deficit, and trade deficit on …