This paper analyses the relation between US inflation and unemployment from the perspective of quot;frictional growth … policy has not only persistent, but permanent real effects, giving rise to a long-run inflation-unemployment tradeoff. We … the US unemployment and inflation trajectories during the nineties …

chain reactions, and provides new evidence on the long-run inflation-unemployment tradeoff in the US. It is argued that … inflation/unemployment responses to money growth shocks. SVAR (structural vector autoregression) and GMM (generalised method of … and real sides of the economy are symbiotic. In the light of the significant and robust long-run inflation …

the PC and explain the evolution of inflation and unemployment in the US from 1970 to 2006. Since our empirical … and inflation, while the monetary expansion was quite ineffective and led mainly to higher inflation. Finally, the …

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

The conventional wisdom that inflation and unemployment are unrelated in the long-run implies the compartmentalisation … of macroeconomics. While one branch of the literature models inflation dynamics and estimates the unemployment rate … compatible with inflation stability, another one determines the real economic factors that drive the natural rate of unemployment …

made in terms of several macroeconomic indicators, GDP, Unemployment, Inflation, Current Account Balances, and debt …