inflation observed in the European catching-up countries, which suggests that other factors may be at play. In these and related … non-traded sectors) on the dual inflation differential is more than twice as large as that in the "flexible" countries. We … conclude that, in a catching-up country, premature euro adoption may foster excess inflation, beyond that which is to be …

money growth leads to higher inflation and higher unemployment, so the long-run Phillips curve is not vertical. The optimal …

employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …

high during 2016-2019, keeping inflation below the Reserve Bank's target band. Optimal monetary policy in 2016-2019 would …

relating unemployment and vacancies to inflation, the link between these labor market indicators and inflation depends on …

and real wage rigidities. In our analysis, we focus on the differentials in inflation and unemployment between countries … inflation and unemployment differentials. Second, we find that asymmetries in labor market structures tend to increase the … volatility of both inflation and unemployment differentials. Finally, we show that it is important to take into account the …

Bei Vorliegen nach unten starrer Nominallöhne erschwert niedrige Inflation Reallohnanpassungen und führt so … Auswirkungen bei sehr niedriger Inflation nicht zu vernachlässigen sind. Die Ergebnisse dieser Literatur sollten daher bei der …In the presence of downwardly rigid nominal wages, low inflation may lead to higher equilibrium unemployment by …

money growth leads to higher inflation and higher unemployment, so the long-run Phillips curve is not vertical. The optimal …