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. …

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 …

Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been …

unemployment—compared to the past. We examine another aspect that could explain this empirical finding, namely the demographic … Germany to confirm a weakening of monetary policy effectiveness over time with regards to unemployment and inflation. After …

similar to that of the US both in terms of the shape and magnitude of the response. However, unemployment in the UK is less …