Persistently high unemployment rates in Germany have led to a long-running controversy on the causes of the … unemployment problem. This paper aims to re­view the contribution of Keynesian and monetarist theories to this controversy and … explores empirically their implications for the explanation of high un­em­ploy­ment in Germany using a structural vector …

In this paper we introduce and test the hypothesis that the relation between inflation and unemployment has been in … unemployment were the result of the struggle between the wage and price setters trying to influence the distribution of income to … a rising rate of unemployment. Our hypothesis was inspired by the observation that the statistical Phillips curves are …

We investigate the controversial issue whether unemployment is related to productivity growth in the long run, using U …. Therefore the secular decline of unemployment since the mid 1990s indeed stemmed from higher average productivity growth. The …

This paper provides an empirical investigation of the wage, price and unemployment dynamics that have taken place in … to lead to increasing unemployment, slowdown in productivity growth, higher interest rates, and loss of competitiveness …

This paper argues that there is a nonzero inflation-unemployment tradeoff in the long-run due to frictional growth, a … unemployment. Hence, we estimate an interactive dynamics model for the US that includes wage-price setting and labour market … equations. We then evaluate the inflation-unemployment tradeoff and assess the impact of productivity, money growth, budget …

productivity growth particularly for the US. We conclude that a better understanding of the inflation-unemployment tradeoff …