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 … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no …

-run inflation-unemployment tradeoff. …

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

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

We consider changes in the distribution of hourly compensation in Canada using confidential census data and the recent … increase. Changes in the composition of the workforce explain less than 25% of the rise in wage inequality. However …

that have relatively similar backgrounds and tax systems: Australia, Canada, New Zealand, the UK, and the US. The first …

In a number of high-income countries over the past few decades there has been a large growth in income inequality and … applies the theory of optimal piecewise linear taxation to the issue of the taxation of top incomes. Our results suggest that … an appropriate response to rising inequality is a shift towards a more progressive multi-bracket income tax system, with …