, consumption, investment and unemployment)has a distinct dynamic from disagreement about nominal variables(inflation and interest … series. Countryby-country regressions for inflation and interest... …

a special focus on persistence of real wages,wage and price inflation. The analysis is conducted within a structural …, as well as the cointegrating properties of theestimated system. Overall, in the long run, wage and price inflation emerge …

This paper examines the impact of downward wage rigidity (nominal and real) onoptimal steady-state inflation. For this … andFinland). The calibrated heterogeneous agent models are then solved for differentsteady state rates of inflation to derive …

in the different models. Simple model-specific policy rules that include the lagged interest rate, inflation and current … and lagged output gaps are not robust. Some degree of robustness can be recovered by using rules without interest … effective strategy for improving the robustness of policy rules. JEL Classification: E12, E52, E61 …

In this paper, we examine the performance and robustness of optimised interest-rate rules in four models of the euro …

which induce smooth inflation also dampen the adjustment of wages in response to shocks. In the search and matching … Phillips curve is that inflation is not only driven by an output gap but also by an employment gap – a feature usually …

All else equal, higher wages translate into higher inflation. More rigid wages imply a weaker response of inflation to …