-run concept like the natural rate of unemployment. We examine what effect uncertainty has on the use of NAIRU in policy …

unemployment-inflation tradeoff since 1995 …

policymakers underestimate both the natural rate of unemployment and the persistence of inflation in the Phillips curve. I estimate … the model using likelihood methods. The estimation results show that the model accounts remarkably well for the evolution … of policymakers' beliefs, stabilization policy and the postwar behavior of inflation and unemployment in the United …

examine U.S. time series and find that, as the model predicts, unemployment fluctuations are associated with both inflation …

wage change is positively correlated with the unemployment rate and with the consumer price inflation rate …

good job of explaining the deviations of household inflation and unemployment expectations from the `rational expectations …

-market slack is captured by the level of short-term unemployment. This equation explains inflation behavior since 2000, including … the failure of high total unemployment since 2008 to reduce inflation greatly. The fit of our equation is especially good … Phillips curve in which core inflation depends on short-term unemployment and on expected inflation as measured by the Survey …

model labor market frictions and unemployment explicitly. The present paper describes some of the essential ingredients and …