. We show that monetary policy delegation is therefore sub-optimal in achieving price-stability compared to labor …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …

implementation of substantial structural reforms, in particular the authorities’ planned reforms in labor markets, the investment …

This Selected Issues paper for South Africa presents a quantitative analysis of inflation dynamics in the country. The … inflation. Exposed to exchange rate and other shocks, the model confirms that a delayed policy response to inflation shocks … leads to persistently higher inflation rates and, subsequently, to a sharp real contraction of the economy. …

inflation-unemployment process. The results provide some evidence in favor of the Lucas critique by showing that the short …-run unemployment-inflation trade-off tends to improve in countries that are successful in providing low and stable inflation. …

unemployment and growth, the natural rate of inflation hypothesis, the fiscal theory of the price level, and the proper goals of …Today's global economy, with most developed nations experiencing very low inflation, seems a world apart from the … "Great Inflation" that spanned the late 1960s to early 1980s. Yet, in this book, Brigitte Granville makes the case that …

-run inflation-unemployment tradeoff. …