which there are multiple equilibrium unemployment rates. The model has two equations in common with the new-Keynesian model …

Central banks throughout the world predict inflation with new-Keynesian models where, after a shock, the unemployment …

We extend the `rational-partisan' model of inflation to allow for the effects of unemployment persistence on the … dynamics of inflation. We combine this model with the `exchange-rate-regime' model of inflation and examine the experience of … the United Kingdom. Outside the fixed exchange rate regime of Bretton Woods, persistently high inflation can be attributed …

This paper explores the interrelation between the degree of unemployment persistence and the unemployment … unemployment and making unemployment less persistent, the less effective will be the growth-promoting supply-side policies (such as … training schemes) in reducing unemployment. …

This Paper develops a model with multiple steady states (low tax and low unemployment versus high tax and high … unemployment) in which equilibrium selection is not conditioned on a sunspot variable. Instead, large temporary shocks initiate … possible that the transition to the high-unemployment steady state after a negative shock can be avoided if the government …

We study the determination of Irish inflation between 1926 and 2012. The difference between unemployment and the NAIRU … is a significant determinant of inflation in a simple backward-looking Phillips Curve that incorporates import prices …

heterogeneity in wage rigidity, such as the persistence in price and the wage inflation, which a standard New Keynesian model with …

reduces both inflation and unemployment sufficiently to make the appointment of such a bank socially optimal. Intuitively … perfect competition on product markets and that inflation is chosen directly by the monetary authority. Although these …, prices are set by firms and that the monetary authority affects the price level and inflation by determining the money supply …

firms) and a measure of wage entitlement are critical to fit the dynamic responses of hours, wages and inflation to various … significant fall of inflation and nominal wage growth in response to a neutral technology shock. …

markets, and central bank conservativeness. Economic performance is characterized by unemployment, inflation, real wages and …