This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …

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

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 …

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

We examine the relationship between inflation and inflation uncertainty using a GARCH model that allows for … simultaneous feedback between the conditional mean and variance of inflation. We also derive a number of theoretical econometric … results and illustrate the relevance of these results with an empirical example of the US monthly inflation process. Our …

skills during the experience of unemployment. Within a search and matching model, we show that all natives and immigrants are …

-reaction perspective, in which unemployment movements are viewed as the outcome of the interplay between labor market shocks and prolonged …This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which … unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain …

associated with high consumption value and low effort. This increases the skill mismatch and aggregate unemployment in the …

actual unemployment. …

This paper views movements in unemployment as the result of the interaction between: (a) lags in labour market … decisions; and (b) labour market shocks with temporary and permanent components. Two features of unemployment dynamics are … examined: (i) `unemployment persistence', arising when temporary shocks have persistent effects on unemployment; and (ii …