inflation and the difficulties of East European central banks in pursuing non-inflationary policies. The main obstacles are the …

We study the effects of Central Bank transparency on inflation and the output gap. We thus first identify a small … analytical model, which concludes that transparency affects the variability of inflation and output and not their average levels … explain however, about 50% of the variability in inflation. The relation between transparency and output volatility is less …

This paper reviews a new framework for analyzing the interrelationship between inequality, unemployment, labor market …. It implies that the opening of trade may raise inequality and unemployment, but always raises welfare. Unilateral … reductions in labor market frictions increase a country's welfare, can raise or reduce its unemployment rate, yet always hurt the …

We study the determination of Irish inflation between 1926 and 2012. The difference between unemployment and the NAIRU … is a significant determinant of inflation in a simple backward-looking Phillips Curve that incorporates import prices …

which there are multiple equilibrium unemployment rates. The model has two equations in common with the new-Keynesian model …

monetary policy usually affects both inflation and unemployment, even when all structural parameters of the economy and of … features, such as the degree of centralization of wage bargaining, labour unions' inflation aversion and the degree of … suggests that the switch to a monetary union is likely to make labor uur unions more aggressive, increasing unemployment …

, or of central bank conservativeness are associated with lower unemployment and inflation. However the forward shifting of … by governments concerned with the costs of inflation and unemployment, as well as with redistribution to particular … changes in either labour taxes or in unemployment benefits to labours costs is larger the higher are those institutional …

We extend the `rational-partisan' model of inflation to allow for the effects of unemployment persistence on the … dynamics of inflation. We combine this model with the `exchange-rate-regime' model of inflation and examine the experience of … the United Kingdom. Outside the fixed exchange rate regime of Bretton Woods, persistently high inflation can be attributed …

) triggers two opposite effects on real wages, unemployment and inflation. The decrease in the number of unions reduces the … competition effect’ raises real wages, unemployment and inflation. But the decrease in the number of unions also strengthens the …, unemployment and inflation. The interaction between those two effects produces a Calmfors-Driffill type relation between real wages …