The U.S. economy entered the 1920s with a robust job market and high inflation but fell into a recession following the … Federal Reserve's discount rate hikes to tame inflation. Using a newly constructed data set, we study labor market dynamics …

In the years following 2009, long-term unemployment has been very elevated while inflation has fallen only moderately … variation, can discriminate the independent influences of short-and long-term unemployment on price inflation. We present a …-term unemployment exert equal downward pressure on price inflation …

We argue that long-run inflation has nonlinear and state-dependent effects on unemployment, output, and welfare. Using … anticipated inflation and unemployment. Second, there is also a positive correlation between anticipated inflation and … unemployment volatility. Third, the long-run inflation-unemployment relationship is not only positive, but also stronger when …