A recent paper has suggested there might be a trade-off between inflation and unemployment at low inflation rates and … this has led some economists to recommend that Canada increase its inflation rate. Underlying this view is the idea that …, because firms are reluctant to cut workers' nominal wages, a moderate amount of inflation can be used to facilitate needed …

A number of authors have suggested that economies face a long-run inflation-unemployment trade-off due to downward …-wage rigidity increases the natural rate of unemployment in times of low wage inflation. Our main conclusion is that the performance … nominal-wage rigidity. This theory has implications for the nature of the short-run Phillips curve when wage inflation is low …

Real wage rigidities have recently been proposed as a way of building intrinsic persistence in inflation within the … significant [at usual levels] and correctly-signed reduced-form coefficient estimates, showing a trade-off between unemployment … and inflation in the New Keynesian Phillips curve. From a methodological perspective, these results derive from our …

-based inflation-expectation series from the Federal Reserve Bank of Philadelphia. The test the authors use rejects Gali and Gertler …

studied: one based on a rational-expectations assumption, and a modification to the latter that uses survey data on inflation …

Real wage rigidities have recently been proposed as a way of building intrinsic persistence in inflation within the … significant [at usual levels] and correctly-signed reduced-form coefficient estimates, showing a trade-off between unemployment … and inflation in the New Keynesian Phillips curve. From a methodological perspective, these results derive from our …

The authors address empirically the implications of structural breaks in the variance-covariance matrix of inflation …) framework as the response of domestic inflation to an impulse in import price inflation. This approach allows them to examine …

This paper compares the performance of simple inflation targeting (IT) and price-level path targeting (PLPT) rules to … preferred to IT for delivering macroeconomic stability, as it delivers a reduction in inflation and nominal interest rate …

explain the poor quality of recent inflation forecasts based on the conventional Phillips curve. Among the various … explanations we consider for the persistent underestimation of inflation, the one that emerges most clearly from our findings is … that the process by which inflation expectations are formed has changed in recent years. Shifts in expectations appear to …