employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …

employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …

inflation and the stabilization of the welfare relevant output gap after a productivity shock hits the economy. When the … standard model is enhanced by real wage rigidities or labor turnover costs, an endogenous short-run inflation-output tradeoff … rigidities. Second, labor turnover costs are the dominant source for the inflation-output tradeoff when both rigidities are …

period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence … cost determination. This set-up produces realistic labor market statistics together with inflation persistence …

inflation persistence. The closer to zero this parameter, (i) the more firms tend to adjust on the intensive margin, reducing … wage in determining the marginal cost. This set-up produces realistic labour market figures together with inflation …

period. The workers’ bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence … cost determination. This set-up produces realistic labor market statistics together with inflation persistence …

1980s. Based on the timing of observed fluctuations in interest rates, inflation, and productivity, it appears that the …

, we study the implications of different inflation regimes on the racial unemployment gap. Higher trend inflation increases …

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of … the model to account for the joint dynamics of output and inflation rely on its ability to explain the dynamics in the …