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 …

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 …

We implement a survey of Dutch households in which random subsets of respondents receive information about inflation …. The resulting exogenously generated variation in inflation expectations is used to assess how expectations affect … subsequent monthly consumption decisions relative to those in a control group. The causal effects of elevated inflation …

which ﾑobservedﾒ inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our … persistence of the aggregate inflation … Carlo experiments, where we also study the estimation of the aggregate effects of micro and macro shocks. The paper …

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 …

- although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly … models can generate both substantial inflation persistence and a nonzero inflation-unemployment tradeoff in the long … asserted that, in the context of the new Phillips curve (NPC), inflation is a jump variable. We argue that this persistency …

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