-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a … breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years … unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since …

price and wage rigidities to study four countries (the U.S., the U.K., Sweden, and Germany) during the financial crisis and … factors were also important in the U.K., but less so in Sweden and Germany. Reduced matching efficiency was considerably less … important in the U.K. and Sweden than in the U.S., but matching efficiency improved in Germany, helping to keep unemployment low …

United States and Germany we find that 80-90 percent of entrepreneurs are opportunity entrepreneurs. Applying our proposed …

differential effects of UI in booms and recessions, this paper exploits the fact that, in Germany, potential UI benefit duration is …

data from the U.S. and Germany in structural VARs, we find that positive innovations to business uncertainty lead to …

This paper examines inflation dynamics in the United States since 1960, with a particular focus on the Great Recession …. A puzzle emerges when Phillips curves estimated over 1960-2007 are used to predict inflation over 2008-2010: inflation … by theories of costly price adjustment: we measure core inflation with the median CPI inflation rate, and we allow the …

("wageless recovery"). Second, inflation determines the type of recovery: low inflation (below 30 percent annual rate) is … associated with jobless recovery, while high inflation is associated with wageless recovery. The paper shows that this pattern of …