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 … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no …

hyperbolic discounting leads to inflation having significant long-run effects on real variables. …

-run inflation-unemployment tradeoff. …

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-unemployment …

distribution. The conventional method of analysis is regression of summary inequality indices on variables such as the unemployment … and inflation rates. Building on the lessons from recent advances in time-series econometrics, we suggest instead that one …

find a high degree of downward nominal wage rigidity, which for rates of inflation lower than three percent is shown to … lead to higher equilibrium unemployment via the generated real wage wedge. …

education on labour force participation and on unemployment can be attributed to literacy and numeracy (the indirect effect) and … literacy and numeracy on participation or unemployment. The direct and total effects of experience are the same. The findings …

In the presence of downwardly rigid nominal wages, low inflation may lead to higher equilibrium unemployment by …Bei Vorliegen nach unten starrer Nominallöhne erschwert niedrige Inflation Reallohnanpassungen und führt so … möglicherweise zu erhöhter gleichgewichtiger Arbeitslosigkeit. Dieser Aufsatz analysiert die wachsende Evidenz zu nach unten starren …

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