This paper uses a sample of 116 recession episodes in developed and emerging market economies to compare the labor …-market recovery during financial crises with that of other recession episodes. It documents two new stylized facts. First, labor …-market recovery from financial crises is characterized by either higher unemployment ("jobless recovery") or a lower real wage …

. This suggests that currency depreciation can help reduce unemployment only insofar as it is associated with inflation, and …This paper discusses three policy tools to mitigate jobless recoveries during financial crises: inflation, real … document that large inflationary spikes appear to help unemployment to get back to pre-crisis levels. However, the counterpart …

, inflation and housing prices. Flows into both full and partial retirement increase significantly when the unemployment rate …We analyze lifetime earnings histories of white males during 1960-2010 and categorize the labor force status of every … retirement spells has been steadily increasing. We estimate the response of retirement timing to variations in unemployment rate …

unemployment rate has been about 0.8 percentage points higher than if average inflation had been on target. This is a large … unemployment cost of undershooting the inflation target …If inflation expectations become firmly anchored at the inflation target even when average inflation deviates from the …

This paper describes a new data set of the forecasts of output growth, inflation, and unemployment prepared by …

Previous literature has found that both unemployment and inflation lower happiness. This paper extends the literature … interest rates. I find, conventionally, that both higher unemployment and higher inflation lower happiness. Interest rates are … that unemployment depresses well-being more than inflation. The least educated and the old are more concerned about …

We study the long-run relation between money, measured by inflation or interest rates, and unemployment. We first … where both money and unemployment are modeled using explicit microfoundations, integrating and extending recent work in … macro and monetary economics, and providing a unified theory to analyze labor and goods markets. We calibrate the model, to …

for the unemployment-inflation tradeoff and for the conduct of monetary policy.lt;brgt;lt;brgt;We proceed in two steps. We … setting mechanisms for fluctuations in unemployment. We show the role of labor market frictions and real wage rigidities in … staggered price setting by firms. We derive the relation between inflation and unemployment and discuss how it is influenced by …

unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since …-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 …

based on the assumptions that inflation expectations are fully anchored at the Federal Reserve's target, and that labor …-market slack is captured by the level of short-term unemployment. This equation explains inflation behavior since 2000, including … the failure of high total unemployment since 2008 to reduce inflation greatly. The fit of our equation is especially good …