-run inflation-unemployment tradeoff. …

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 … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no …

hyperbolic discounting leads to inflation having significant long-run effects on real variables. …

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 … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no …

-run inflation-unemployment tradeoff. …

hyperbolic discounting leads to inflation having significant long-run effects on real variables. …

model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …

In the presence of downwardly rigid nominal wages, low inflation may lead to higher equilibrium unemployment by …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 …

This paper analyzes the relationship between unemployment and wage inflation for 10 of the euro area countries. The … combination of low wage inflation and high unemployment in Europe is usually attributed to a rise in the natural rate of … unemployment that may account for a changing pattern in the unemployment inflation trade-off. Moreover, it analyzes whether the …

Keynesian model we show that, if households have hyperbolic discounting, small positive rates of inflation can be optimal. In … our baseline calibration, the optimal rate of inflation is 2.1% and remains positive across a wide range of calibrations. …