different labor productivities. This destroys incentives for individuals with a high labor productivity to earn a higher labor … income than individuals with a low labor productivity. …

with respect to their labor productivity. In each period, the respective government decides not only about the distribution … - between individuals with a high and with a low productivity of labor. The government in period 1 is not able to determine the … policy of the subsequent government in period 2. In the political equilibrium, consumption of high- and low-productivity …

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

reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …

This paper examines the presence of asymmetric behavior in exchange rate pass-through (ERPT) to CPI inflation in 12 …