estimates. The research period has been characterised by high labour demand, negative supply shocks, high levels of inflation …

This paper studies the relationship between the change in the unemployment rate and output growth using an approach …

We study optimal government spending in a business cycle model with frictional unemployment. The Ramsey optimal policy …

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 …