relates average unemployment to average wage inflation; the curve is virtually vertical for high inflation rates but becomes … flatter as inflation declines. Second, macroeconomic volatility shifts the Phillips curve outward, implying that stabilization …

This paper develops a model of the process of reallocation of labor from the state sector to the private sector. When … growth is exogenously determined, we show that in the initial stages of transition unemployment will rise over time. After a … critical stage in the transition process, restructuring is accompanied by a decline in unemployment. When growth is …

size to set up a quasi-experiment and data from the French labor force survey, we show that the law constrained the choice …

Regional labor market discrepancies have been widening in Belgium in the last two decades and are more evident within … particular demographic groups. These developments can largely be accounted for by worse matching of people to jobs in the high-unemployment … provinces. Using a structural VAR, it is also shown that labor market dynamics in Belgium produce a strong attenuating effect on …

based on the assumptions that inflation expectations are fully anchored at the Federal Reserve’s target, and that labor …-market slack is captured by the level of shortterm unemployment. This equation explains inflation behavior since 2000, including … the failure of high total unemployment since 2008 to reduce inflation greatly. The fit of our equation is especially good …

the analysis, and demonstrates how to decompose the output gap into contributions of observed data on output, inflation …, 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 … remarkably stable. We find that a traditional Phillips curve describes the behavior of inflation reasonably well since the 1960s … observed stability of inflation: inflation expectations have become better anchored and to a lower level; the slope of the …