employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation … ; matching models ; labor market search ; inflation persistence ; real wage rigidity …

Keynesian model we show that, if households have hyperbolic discounting, small positive rates of inflation can be optimal. In … our baseline calibration, the optimal rate of inflation is 2.1% and remains positive across a wide range of calibrations …. -- optimal monetary policy ; inflation targeting ; unemployment ; Phillips curve ; nominal inertia ; monetary policy …

state contingent inflation taxes/subsidies to smooth those rents. Hence, in the optimal Ramsey plan, inflation deviates from … zero and the optimal volatility of inflation is an increasing function of firing costs. The optimal rule should react to … employment alongside inflation. -- Optimal monetary policy ; hiring and firing costs ; labor market frictions ; policy trade-off …

" specification. We propose a method to measure inflation and decompose it along articles' and authors' characteristics. -- hypothesis … testing ; distorting incentives ; selection bias ; research in economics …

This paper introduces bias-corrected estimators for nonlinear panel data models with both time invariant and time …/selection bias. We then estimate the primary equation by fixed effects including an appropriately constructed control function from … both steps might employ nonlinear fixed effects procedures it is necessary to bias adjust the estimates due to the …

schooling and market ability is found to be positive and is consistent with the existence of a positive "Ability Bias". …

quantiles of the wage distribution. We account for the selection bias from the annual hours of work decision by developing and …

This paper documents that rotation group bias - the tendency for labor force statistics to vary systematically by month … groups; both should be nationally representative samples. The rise in rotation group bias is driven by a growing tendency for … bias. We find that rotation group bias increased discretely after the 1994 CPS redesign and that rising nonresponse is …