We ask whether sectoral shocks and the subsequent labor reallocation are responsible for unemployment within selected … is linked to unemployment in country specific dynamic models. For Spain, the ADL-model estimation reveals a significant … impact of sectoral reallocation on unemployment that goes beyond usual business cycle patterns. In Italy, there is weaker yet …

Using a New Keynesian Phillips curve, we document the rapid and persistent increase in the natural rate of unemployment …, 𝑢𝑡 ∗ , in the aftermath of the pandemic and characterize its implications for inflation dynamics. While the bulk of the … inflation surge is attributed to temporary supply factors, we also find an important role for current and expected negative …

In the present paper it will be pointed out with panel data that inflation worsens income distribution, but not in a … linear way. More specifically, at lower inflation levels as inflation goes up, then income distribution worsens more rapidly … than in the case of higher inflation levels (hyperinflation). The sample covers annually most western European countries …

This paper develops a general equilibrium monetary model with performance incentives to study the inflation-unemployment … relationship. A long-run downward-sloping Phillips curve can exist with perfectly anticipated inflation because workers' incentive … to exert effort depend on financial market returns. Consequently, higher inflation rates can reduce wages and stimulate …

The paper deals first with the characters of unemployment and inflation and their trend in the EMU. Then it underlines … that EMU's institutions tend to reduce inflation to a minimum, while limiting fiscal interventions at the national and the …

wages and salaries for temporary budgetary purposes, will further shrink consumption and will cause unemployment in the long …

This paper reviews recent approaches to modeling the labour market, and assesses their implications for inflation … volatile inflation. Models with wage stickiness and right-to-manage bargaining or with firm-specific labour emerge as the most …

volatile inflation. Models with wage stickiness and right-to-manage bargaining or with firm-specific labour emerge as the most … promising candidates. -- Inflation Dynamics ; Labour Market ; Business Cycle ; Real Rigidities …