sluggish. Job creation and job destruction are negatively correlated. And the volatility of unemployment is much larger than in …

The conventional wisdom that inflation and unemployment are unrelated in the long-run implies that these phenomena can … NAIRU. The labour macro literature tries to explain unemployment dynamics and determine the real economic factors that drive … the natural rate of unemployment. We show that the orthodox view that the New Keynesian Phillips curve is vertical in the …

This paper analyses the relation between US inflation and unemployment from the perspective of "frictional growth," a … has not only persistent, but permanent real effects, giving rise to a long-run inflation-unemployment tradeoff. We … the US unemployment and inflation trajectories during the nineties. …

This paper argues that there is a nonzero inflation-unemployment tradeoff in the long-run due to frictional growth, a … unemployment. Hence, we estimate an interactive dynamics model for the US that includes wage-price setting and labour market … equations. We then evaluate the inflation-unemployment tradeoff and assess the impact of productivity, money growth, budget …

The conventional wisdom that inflation and unemployment are unrelated in the long-run implies the compartmentalisation … of macroeconomics. While one branch of the literature models inflation dynamics and estimates the unemployment rate … compatible with inflation stability, another one determines the real economic factors that drive the natural rate of unemployment …

underutilization, and unemployment arising from the decline of the tradable sector. …

underutilization, and unemployment arising from the decline of the tradeable sector. …

This paper addresses the question of why prolonged regional unemployment differentials tend to persist even after their … proximate causes have been reversed (e.g., after wages in the highunemployment regions have fallen relative to those in the low-unemployment …