inflation-unemployment process. The results provide some evidence in favor of the Lucas critique by showing that the short …-run unemployment-inflation trade-off tends to improve in countries that are successful in providing low and stable inflation. …

relates average unemployment to average wage inflation; the curve is virtually vertical for high inflation rates but becomes …, at low inflation. Fourth, when inflation decreases, volatility of unemployment increases whereas the volatility of … inflation decreases: this implies a long-run trade-off also between the volatility of unemployment and that of wage inflation. …

perception of risk by markets. We also find some weak evidence that IT countries did better on unemployment rates and advanced IT …

similar to that of the US both in terms of the shape and magnitude of the response. However, unemployment in the UK is less …

, unemployment, and other variables. A simple bar-chart of contributing factors, in the case of multi-variable methods, sharpens the …

Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been …

This paper develops a simple model for measuring potential output that uses data on inflation, unemployment, and …

We study the role of uncertainty shocks in explaining unemployment dynamics, separating out the role of aggregate and … measure aggregate and sectoral uncertainty and compare their effects on the unemployment rate in a standard macroeconomic … vector autoregressive (VAR) model. We find that aggregate uncertainty leads to an immediate increase in unemployment, with …