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 …

inflation and a permanent reduction in the level of unemployment. In short, we derive a microfounded long-run downward …

-run inflation-unemployment tradeoff. …

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

This paper explores the interrelation between the degree of unemployment persistence and the unemployment … unemployment and making unemployment less persistent, the less effective will be the growth-promoting supply-side policies (such as … training schemes) in reducing unemployment. …

empirical evidence, a rise in the inflation rate leads workers to supply more labor over the contract period, generating a … Calvo wage contracts and positive inflation. Workers with relatively low incomes experience envy, whereas those with … inflation rate, the greater the degree of wage dispersion under Calvo wage contracts, and thus the greater the degree of envy …

, a rise in the inflation rate leads workers to supply more labor over the contract period, generating a significant … 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 latter seek to reduce it. The greater the inflation rate …

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 …