and inflation rates. Building on the lessons from recent advances in time-series econometrics, we suggest instead that one …

countries and non-Inflation Targeting countries, Section 5 uses panel estimation methods including GMM techniques on different …This paper evaluates the success of Inflation Targeting on inflation and growth on a large panel data set of both … authors have used different estimation methods on different samples of data. Some of the differences in results may also be …

We study the link between expected inflation and wages using novel panel data from German firms and employees. We find … that pass-through - the percentage point change in wage growth given a one percentage point change in expected inflation … extensive margin, expected inflation has little effect on additional wage negotiations. …

associated with significant differences in the response of inflation to unemployment and exchange rate shocks. More wage … coordination and higher union density flatten the Phillips curve and increase the inflation response to the real exchange rate, i …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth" describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation, and … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no …

inflation and unemployment. We focus on the G7 economies plus Spain, and use monthly data –high-frequency data in a macro …

eight students in Hungary. Instrumental variables estimates of the local average treatment effect suggest that children …