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A Reappraisal of the Inflation-Unemployment Tradeoff

Snower, Dennis; Karanassou, Marika; Sala, Hector - Institute for the Study of Labor (IZA) - 2002

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth" describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation, and …

Persistent link: https://www.econbiz.de/10005761764

The Return of the Long-Run Phillips Curve

Graham, Liam; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2002

-run inflation-unemployment tradeoff. …

Persistent link: https://www.econbiz.de/10005822071

Hyperbolic Discounting and the Phillips Curve

Graham, Liam; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2008

hyperbolic discounting leads to inflation having significant long-run effects on real variables. …

Persistent link: https://www.econbiz.de/10005763519

The European Phillips Curve: Does the NAIRU Exist?

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2003

model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …

Persistent link: https://www.econbiz.de/10005566739

Does Immigration Affect the Phillips Curve? Some Evidence for Spain

Bentolila, Samuel; Dolado, Juan J.; Jimeno, Juan F - Institute for the Study of Labor (IZA) - 2007

constant inflation. This change has been more pronounced than elsewhere. We argue that this stems from the immigration boom in … 1995 would have led to an annual increase in inflation of 2.5 percentage points if it had not been largely offset by …

Persistent link: https://www.econbiz.de/10005233738

New Evidence on the Dynamic Wage Curve for Western Germany: 1980–2004

Baltagi, Badi H.; Blien, Uwe; Wolf, Katja - Institute for the Study of Labor (IZA) - 2008

In 1994, Blanchflower and Oswald reported that they have found an ‘empirical law of economics’ – the Wage Curve. According to their empirical results, the elasticity of wages with respect to regional unemployment is -0.1. This holds especially for the Anglo-Saxon countries. Our paper...

Persistent link: https://www.econbiz.de/10005761873

The Unemployment Inflation Trade-Off in the Euro Area

Linzert, Tobias - Institute for the Study of Labor (IZA) - 2005

This paper analyzes the relationship between unemployment and wage inflation for 10 of the euro area countries. The … combination of low wage inflation and high unemployment in Europe is usually attributed to a rise in the natural rate of … unemployment that may account for a changing pattern in the unemployment inflation tradeoff. Moreover, it analyzes whether the …

Persistent link: https://www.econbiz.de/10005703542

Hours and Wages in the Depression: British Engineering, 1926-1938

Hart, Robert A. - Institute for the Study of Labor (IZA) - 2000

On their intensive margins, firms in the British engineering industry adjusted to the severe falls in demand during the 1930s Depression by cutting hours of work. This provided an important means of reducing labour input and marginal labour costs, through movements from overtime to short-time...

Persistent link: https://www.econbiz.de/10005822197

The Beveridge Curve

Yashiv, Eran - Institute for the Study of Labor (IZA) - 2006

The Beveridge curve depicts a negative relationship between unemployed workers and job vacancies, a robust finding across countries. The position of the economy on the curve gives an idea as to the state of the labour market. The modern underlying theory is the search and matching model, with...

Persistent link: https://www.econbiz.de/10005763504

The Wage Curve: An Entry Written for the New Palgrave, 2nd Edition

Blanchflower, David G.; Oswald, Andrew J. - Institute for the Study of Labor (IZA) - 2006

This paper summarizes evidence for the existence of a wage curve - a downward-sloping relationship between the level of pay and the local unemployment rate - in modern micro data. At the time of writing, the curve has been found in 40 nations. Its elasticity is approximately -0.1.

Persistent link: https://www.econbiz.de/10005763868