reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …

inflation and output growth is non-linear and that there exists a threshold level below which inflation has no effects on growth. …

long-run interest rates and inflation expectations into account. We find a strong connection between oil prices and long … strong relationship if inflation and oil prices were driven by monetary policy. The observed magnitude of this relationship …

contracts and positive inflation. Workers with relatively low incomes experience envy, whereas those with relatively high … incomes experience guilt. The former seek to raise their income, and the latter seek to reduce it. The greater the inflation … empirical evidence, a rise in the inflation rate leads workers to supply more labor over the contract period, generating a …

contribution of fluctuations in inflation to this particular link. In the data, a temporary rise in inflation causes real commodity … prices to rise, as does a rise in trend inflation. We find that a simple dynamic equilibrium model of commodity supply and … demand gives a realistic response of real commodity prices to inflation. Based on historical simulations, shocks to inflation …