If inflation expectations become firmly anchored at the inflation target even when average inflation deviates from the … target, the long-run Phillips curve becomes non-vertical. During 1997-2011, average inflation expectations in Sweden have … been close to the inflation target of 2 percent, whereas average inflation has fallen short of the target by 0.6 percentage …

concerning the effects of government spending on industry labor market equilibrium. We then create a panel data set that matches …

results suggest that DNWR may not provide a strong argument against the targeting of low inflation rates, as practiced by many …

Using the Panel Study of Income Dynamics, we find that true wage changes have many fewer nominal cuts and more nominal …

Previous literature has found that both unemployment and inflation lower happiness. This paper extends the literature … interest rates. I find, conventionally, that both higher unemployment and higher inflation lower happiness. Interest rates are … that unemployment depresses well-being more than inflation. The least educated and the old are more concerned about …