" – although they generate price inertia, they cannot account for thestylised fact of inflation persistence. It is thus commonly … asserted that, in the context of thenew Phillips curve (NPC), inflation is a jump variable... …

We model empirically the role of labor market institutions in affecting the response of inflation to labor market and …-country differences in inflation adjustment for the "sheltered" (non-trading) sector; the effects in the "exposed" (trading) sector are … the Phillips curve in both sectors. More active LM policies also reduce the persistence of inflation. However, but only in …

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 evaluates the success of Inflation Targeting on inflation and growth on a large panel data set of both … evidence to show that the support for a successful Inflation Targeting policy is very weak or non-existent. We use various … the process by which inflation targeting is hypothesised to influence inflation and growth, Section 3 surveys this …

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 …

not efficient. Inflation is detrimental to unemployment …