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 …

-run inflation-unemployment tradeoff. …

Households' and firms' subjective inflation expectations play a central role in macroeconomic and intertemporal … microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants …

The paper examines how the long-run inflation-unemployment tradeoff depends on the degree to which wage-price decisions …

This paper takes a new look at the long-run dynamics of inflation and unemployment in response to permanent changes in …, we construct an empirical model of the Spanish economy and, in this context, we evaluate the long-run inflation …

hyperbolic discounting leads to inflation having significant long-run effects on real variables. -- Inflation ; unemployment …

trade result in an asymmetric reaction to an otherwise symmetric shock. In this context, we show that oil price shocks can …

affects how agents learn from new information. We show that as inflation has recently risen in advanced economies, both … households and firms have become more attentive and informed about inflation, leading them to respond less to exogenously … provided information about inflation and monetary policy. We also study the effects of RCTs in countries where inflation has …

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