This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …

This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which … unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain …-reaction perspective, in which unemployment movements are viewed as the outcome of the interplay between labor market shocks and prolonged …

The paper empirically examines three possible reasons for the high and rising unemployment of low-skilled employees in … Germany: (i) an upsurge in interindustry trade, (ii) a skill-biased technical change, and (iii) a failure of labour market … in Germany. Thus, economic policy in Germany should focus on improving the employability of workers in the lower segment …