economy. While about half of all studies for the United States find a significant effect of unemployment and inflation on … choice of the sample period is of crucial importance. While in the very long run we find unemployment, inflation and the …

affect inflation. Likewise, the interaction between central bank independence and coordination does not affect unemployment. …

Up to now there was a general conviction that increasing unemployment and inflation have a negative impact on the … the Schröder government. While the results for the former show the known pattern, neither unemployment nor inflation is … significant in the equations of the Schröder government, the latter has even the wrong sign. The missing impact of unemployment …

We investigate empirically the effect of government purchases on unemployment in 20 OECD countries, for the period 1960 …-2007. Compared to earlier studies we use a data set with more variation in unemployment, and which allows for controlling for a host … unemployment; an increase equal to one percent of GDP reduces un-employment by 0.2 percentage point in the same year. The effect is …

to be cut, workers‘ stronger bargaining position requires higher unemployment in equilibrium. However, inflation is more … stronger bargaining position when they try to prevent a cut in money wages. If inflation is so low that some money wages have … stable when money wage rigidity binds, providing an incentive for monetary policy makers to choose a low target for inflation …

economic performance under inflation targets, and arguments that the flexible exchange rate has undermined real economic …

independence and inflation. Making use of data on the evolution of central bank independence over time and controlling for possible … country’s inflation performance. Examining a cross-section of up to 69 countries, we are able to show that granting a central … bank more autonomy does not necessarily lead to better inflation performance. To lower inflation by increasing independence …

such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … frequencies, but the effects on unemployment may well be more persistent in countries with highly regulated labor markets. We … study the Swedish experience of unemployment and monetary policy. Using a structural VAR we find that around 30 percent of …

. Furthermore, they fail to allow for quantity rationing and to model unemployment as a catastrophic event. The macroeconomics based …

Keynesian model we show that, if households have hyperbolic discounting, small positive rates of inflation can be optimal. In … our baseline calibration, the optimal rate of inflation is 2.1% and remains positive across a wide range of calibrations. …