and Japan, be the main force behind employment dynamics. …

–both per hour and per worker–in the United States, the Eurozone Australia, and Japan over the post-WWII era. Results for the U … Eurozone point towards a marked deceleration since the beginning of the 1980s, with the equilibrium rate of growth of output …

of unemployment is affected by the inflation rate. Looking at four countries, France, Germany, the Netherlands and … inflation. The particular shape of the empirical relationship supports the view that a moderate level of inflation provides some … of between 0.5% and 1%, and to decline quickly for higher rates of inflation. For the range of inflation rates observed …

inflation and a permanent reduction in the level of unemployment. In short, we derive a microfounded long-run downward …

This paper estimates the NAIRU (standing for the Non-Accelerating Inflation Rate of Unemployment) as a parameter that … varies over time. The NAIRU is the unemployment rate that is consistent with a constant rate of inflation. Its value is … determined in an econometric model in which the inflation rate depends on its own past values (‘inertia’), demand shocks proxied …