-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 …

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 …

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 …

. The Beveridge curve depicts the steady state of the model, whereby inflows into unemployment are equal to the outflows …

pay and the local unemployment rate - in modern micro data. At the time of writing, the curve has been found in 40 nations …

Keynesian model we show that, if households have hyperbolic discounting, small positive rates of inflation can be optimal. In … our baseline calibration, the optimal rate of inflation is 2.1% and remains positive across a wide range of calibrations. …

This paper characterizes the optimal redistributive tax schedule in a matching unemployment framework with endogenous … (voluntary) nonparticipation and (involuntary) unemployment. The optimal employment tax rate is given by an inverse employment …

optima, non-linear income taxation is a key complement to unemployment insurance. According to the level of the workers …