Alogoskoufis, George; Philippopoulos, Apostolis - C.E.P.R. Discussion Papers - 1991
We extend the `rational partisan model' of inflation and unemployment by introducing inflation and unemployment … stability. The greater aversion of `socialists' to unemployment results in an inflation rate which is higher by five percentage … points than under the more anti-inflationary `conservatives'. Unemployment seems to be independent of the identity of the …