1980s. Based on the timing of observed fluctuations in interest rates, inflation, and productivity, it appears that the …

cycle volatility and matching the lack of a long-run relationship between vacancy creation and inflation. With regard to …

and Japan than in the United States. Employment contributes the largest proportion of the cycle in Europe and the United … States (but not Japan), which is inconsistent with the idea that higher levels of employment protection in Europe dampen …

negative relationship between labor’s share and lagged productivity growth and inflation. I also evaluate the role of labor …

contribution of fluctuations in inflation to this particular link. In the data, a temporary rise in inflation causes real commodity … prices to rise, as does a rise in trend inflation. We find that a simple dynamic equilibrium model of commodity supply and … demand gives a realistic response of real commodity prices to inflation. Based on historical simulations, shocks to inflation …

long-run interest rates and inflation expectations into account. We find a strong connection between oil prices and long … strong relationship if inflation and oil prices were driven by monetary policy. The observed magnitude of this relationship …