Spanish Unemployment and Inflation Persistence: Are There Phillips Trade-Offs?

This paper studies the joint behaviour of inflation and unemployment in Spain over the period 1964-1995. We analyze the implications both of full hysteresis in unemployment and high inflation persistence for inference regarding dynamic Phillips trade-offs and sacrifice ratios in the Spanish economy in response to a demand shock.

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Year of publication:	1997
Authors:	Dolado, Juan J. ; López-Salido, J. David ; Vega, Juan L.
Institutions:	Banco de España
Subject:	INFLATION \| UNEMPLOYMENT

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Series:	Banco de España Working Papers.
Type of publication:	Book / Working Paper
Notes:	40 pages
Classification:	E24 - Employment; Unemployment; Wages ; E31 - Price Level; Inflation; Deflation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005155234