surprising miracle occurred the leaver nations are alleged to have enjoyed a burst of real growth and a decline in unemployment … pronounced if it were not for quiescent wage rates, which the paper attributes to high unemployment. The absence of any …

unemployment, and relatively greater income equality, in contrast to the opposite path being pursued by the United States. While … structural shocks may initially create a positive tradeoff between productivity and unemployment, they set in motion a dynamic … theoretical contributions of this paper are to show how a productivity-unemployment tradeoff might emerge and how it might …

years, reflecting long vacations, high unemployment, and low labor force participation, and only about one-third of the …

flexibility of labor markets, they are likely to improve the short-run inflation-unemployment tradeoff, providing an incentive for … policymakers to expand aggregate demand. Also, policymakers' promises that they will encourage a decline in unemployment in … continued deceleration of inflation in the depreciating countries provides evidence that their natural unemployment rate has …