inflation-unemployment process. The results provide some evidence in favor of the Lucas critique by showing that the short …-run unemployment-inflation trade-off tends to improve in countries that are successful in providing low and stable inflation. …

.S. experiencing a sharper rise in unemployment and, perhaps, more widespread loss of financial wealth than elsewhere in the G-7, the …

relates average unemployment to average wage inflation; the curve is virtually vertical for high inflation rates but becomes …, at low inflation. Fourth, when inflation decreases, volatility of unemployment increases whereas the volatility of … inflation decreases: this implies a long-run trade-off also between the volatility of unemployment and that of wage inflation. …

nation’s 2000-01 economic crisis. Higher growth could reduce unemployment and raise living standards toward European Union …

perception of risk by markets. We also find some weak evidence that IT countries did better on unemployment rates and advanced IT …