This book studies unemployment and inflation in economic crises, first considering the scenario of a demand shock in … unemployment or European inflation; there would also be an explosion of European government purchases and an implosion of the … Europe. In that case, monetary and fiscal interaction would cause widespread oscillations in European unemployment and …

There is much confusion in the economics literature on wage determination and the employment-inflation trade-off. Few …

: cumulative wage gap vs. inflation gap -- 4. Empirical evidence -- 5. Policy implications. …-great recession puzzles and the challenges to the fundamental stable relationship between inflation and economic slack. Liviu makes an … insightful contribution to the discussion and to our understanding of inflation dynamics by introducing the concept of cumulative …