Fitzenberger, Bernd; Franz, Wolfgang; Bode, Oliver - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2007
estimates the unemployment rate that is compatible with a tolerable inflation rate of say 2 percent following roughly the … compatible with 2 percent inflation in Germany is currently around 7 percent if the definition of unemployment follows the … Phillips curve, the sum of coefficients associated with expected inflation is far beyond unity, whatever measure of expected …