Using the statistical technique of fuzzy clustering, regimes of inflation and unemployment are explored for the United … inflation/unemployment space. There is considerable similarity across the countries in both the regimes themselves and in the … timings of the transitions between regimes. However, the typical rates of inflation and unemployment experienced in the …

economies. Based on the neoclassical tradition, the ratio of the marginal product of labor to real wages is generally defined as … government taxation, capital expansion, unionization, inflation. The authors find that the wage productivity gap gives a robust …

. Specifically we find that the expected rate of future inflation and real marginal costs serve as replacements for equilibrium … OECD inflation, the NPC is encompassed by an existing theory. …

inflation and inflation uncertainty. Thus, we can test for state-dependence of the Calvo parameter in a straightforward way. To … that a number of shortcomings of empirical NKPC model representations in explaining inflation data may be addressed by … the relation between inflation and marginal costs are considerably reduced in the framework of our more general NKPC …

to match past inflation. However, the present paper proposes a much larger effect by using the job finding rate as the …

The New Keynesian Phillips curve (NKPC) is now the dominant model of inflation dynamics. In recent years, a large body …

This paper argues that there is a nonzero inflation-unemployment tradeoff in the long-run due to frictional growth, a …-run Phillips curve suggests the development of a holistic framework that can jointly explain the evolution of inflation and … equations. We then evaluate the inflation-unemployment tradeoff and assess the impact of productivity, money growth, budget …

This paper seeks to understand dynamics of inflation and marginal cost (labor share) in models that account for the … productivity growth particularly for the US. We conclude that a better understanding of the inflation-unemployment tradeoff …

Conjectures about inflation expectations are inextricably linked to our understanding of the relationship between the … therefore examines the empirical properties of inflation expectations data constructed on the basis of both qualitative and … provides some insights into the nature of the interaction between monetary policy and inflation expectations. …