The Phillips curve has flattened in Spain over 1995-2006: unemployment has fallen by 15percentage points, with roughly constant inflation. This change has been more pronouncedthan elsewhere...

This paper discusses a set of statistics for examining and comparing labor market dynamicsbased on the estimation of continuous time Markov transition processes. It then uses these toestablish stylized facts about dynamic patterns of movement using panel data fromArgentina, Brazil and Mexico...