consumer price inflation rate. …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth? describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation, and …

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 …

countries, plus the US and Japan. Main findings include a high degree of regulation in wage setting in most countries. Although …

An empirical analysis of the impact of labour market structures on the response of inflation to macroeconomic shocks is … presented. Results based on a 20 country panel show that if labour market coordination is high, the effect on inflation of … inflation to its reduced form determinants. These findings are attributed to the behaviour of wages following movements in …

and inflation rates. Building on the lessons from recent advances in time-series econometrics, we suggest instead that one …

We analyze the welfare cost of inflation in a model with cash-in-advance constraints and an endogenous distribution of … establishments' productivities. Inflation distorts aggregate productivity through firm entry dynamics. The model is calibrated to the … United States economy and the long-run equilibrium properties are compared at low and high inflation. We find that, when the …

find a high degree of downward nominal wage rigidity, which for rates of inflation lower than three percent is shown to …