In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price … significantly lower elasticity of marginal costs with respect to output. This helps to explain the sluggishness of inflation and the …

race. Our results show that the real interest rate has a positive effect on the relative unemployment of black men to white …Monetary policy has been historically concerned with controlling inflation, using the interest rate as its main tool …. However, such policies are not gender- or race-neutral. This paper explores econometrically the effect of changes in the …

in their unemployment rate and not a decline in labour force participation rate. Policymakers should take account of …

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 …

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of …

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 … ; matching models ; labor market search ; inflation persistence ; real wage rigidity …

This paper integrates a theory of equilibrium unemployment into a monetary model with nominal price rigidities. The … matching frictions and bargaining over real wages and hours of work. Search frictions generate unemployment in equilibrium … for inflation dynamics: under right-to-manage, the real wage rigidity also results in smaller fluctuations of inflation …