inflation-unemployment trade-off we account for a time-varying inflation trend to control for the part of inflation that is not … unemployment and inflation to address the simultaneity problem in Phillips curve estimations. Applying the method of Rigobon and …

employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …

and disadvantages of the various output gap measures. First, I examine the usefulness of the output gap for inflation …

significantly to the determination of inflation and of the dynamics of output. We estimate our model using a maximum likelihood … Geldmenge einen signifikanten Beitrag zur Erklärung der Inflation und der Dynamik des Bruttoinlandsprodukts leistet. Das Model …

This paper studies the importance of money for inflation in the euro area. An inflation equation is derived from a … small model that combines the supply and demand for money with a Phillips curve and the assumption that inflation … expectations develop adaptively. The model's solution attributes an impact on inflation not to actual money growth but to its core …