Haug, Alfred A.; King, Ian P. - Department of Economics, Faculty of Business and Economics - 2011
We examine the relationship between inflation and unemployment in the long run,using quarterly US data from 1952 to … unemployment by some 3 to 3.5 years, in cycles that last from 8 to 25 or 50 years. Our statistical approach is atheoretical in … Berentsen, Menzio, and Wright (2011): the relationship between inflation and unemployment is positive in the long run. …