revisit claims in the literature that money growth is Granger-causal for inflation at low frequencies. Applying frequency …-specific tests in a comprehensive system setup for euro-area data we consider various theoretical predictors of inflation. A general …-to-specific testing strategy reveals a recursive structure where only the unemployment rate and long-term interest rates are directly …

implications for the unemployment-inflation tradeoff and for the conduct of monetary policy.We proceed in two steps. We first leave … firms. We derive the relation between inflation and unemployment and discuss how it is influenced by the presence of labor … market frictions and real wage rigidities. We show the nature of the tradeoff between inflation and unemployment …

dynamics of inflation implied by macroeconomic data, the model needs to assume an average duration of price contracts which is …

This paper estimates the Brazilian Nairu (Non-Accelerating Inflation Rate of Unemployment) and investigates several … concludes that there is a statistically significant relationship, with correct sign, between deviations of unemployment from the … Nairu and inflation. It also shows that the usefulness of the Nairu to the conduct of monetary policy is very limited …