Since 1979 productivity growth in Britain has improved markedly compared with Europe. The turnaround in productivity … has been a worsening in the trade-off between unemployment and inflation. The poor unemployment/inflation trade-off is due … (which does little to restrain inflation). …

We investigate theoretically and empirically the competitive effects of increased trade on prices, productivity and … productivity. In response to an increase in openness, markups show a steep short run decline, which partly reverses later, while … productivity rises in a manner that increases over time. Our estimates suggest that EU manufacturing prices fell by 2 …

productivity for the differences in regional inflation under a common currency. Comparisons are made with regional productivity …While overall inflation has fallen dramatically in countries like Italy and Spain, inflation in the home good sector … remains stubbornly higher than inflation in the traded good sector. If nominal exchange rates are fixed, these real …

This paper explores the interrelation between the degree of unemployment persistence and the unemployment-productivity …

application to forecasts of the Swedish inflation rate where forecast combination using the predictive likelihood outperforms …

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 …

regimes that are nested within this framework: inflation, output-gap growth and nominal income growth targeting; and inflation …

We use evidence from the term structure of inflation expectations implicit in the nominal yields and survey forecasts … of inflation to address the question of whether or not monetary policy is effective. We construct a model that …-neutral, subjective, and objective probability measures. We extract private sector expectations of inflation from this model and establish …

of monetary policy. These models, based on the conventional view that inflation stabilization should be a concern of …-augmented Taylor rule can deliver recurrent mispredictions of inflation in the US before 1987. We then show that a fiscal feedback rule … the two rules predict the behaviour of inflation better than the one based just on the monetary policy rule. After 1987 …