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In this paper we introduce a small Keynesian model of economic growth which is centered around two advanced types of Phillips curves, one for money wages and one for prices, both being augmented by perfect myopic foresight and supplemented by a measure of the medium-term inflationary climate...
Persistent link: https://www.econbiz.de/10010605118
reciprocal relationship. The variable considered are: unemployment, inflation, consumptions, investments and current accounts. We … between investment and unemployment, c) we show the revival of the Phillips curve, especially in Germany, d) we test for the … relationship between unemployment and the Government deficit, e) we show the existence of a relationship between unemployment and …
Persistent link: https://www.econbiz.de/10011261122
reciprocal relationship. The variables considered are: unemployment, inflation, consumptions, investments and current accounts …-Okun relationship between investment and unemployment, c) we show the revival of the Phillips curve, especially in Germany, d) we test … for the relationship between unemployment and the Government deficit, e) we show the existence of a relationship between …
Persistent link: https://www.econbiz.de/10010795487
inflation and unemployment in the long run, using quarterly US data from 1952 to 2010, and state-of-the art econometric methods … relationship between inflation and unemployment is positive in the long run. …. Using a band-pass filter approach, we find strong evidence that a positive relationship exists, where inflation leads …
Persistent link: https://www.econbiz.de/10010907072
We examine the relationship between inflation and unemployment in the long run,using quarterly US data from 1952 to … Berentsen, Menzio, and Wright (2011): the relationship between inflation and unemployment is positive in the long run. … 2010. Using a band-pass filter approach, we find strong evidence that a positive relationship exists, where inflation leads …
Persistent link: https://www.econbiz.de/10009293392
We examine the relationship between inflation and unemployment in the long run, using quarterly US data from 1952 to … Berentsen, Menzio, and Wright (2011): the relationship between inflation and unemployment is positive in the long run. … 2010. Using a band-pass filter approach, we find strong evidence that a positive relationship exists, where inflation leads …
Persistent link: https://www.econbiz.de/10009294948
We examine the relationship between inflation and unemployment in the long run, using quarterly US data from 1952 to … Berentsen, Menzio, and Wright (2011): the relationship between inflation and unemployment is positive in the long run. … 2010. Using a band-pass filter approach, we find strong evidence that a positive relationship exists, where inflation leads …
Persistent link: https://www.econbiz.de/10010552486
model does a good job of accounting for the joint behavior of labor and goods markets, as well as inflation, during the … capital played critical roles in accounting for the small size of the drop in inflation that occurred during the Great …
Persistent link: https://www.econbiz.de/10010787055
This study analyzes the effects of inflation on the long-run nexus between unemployment and economic growth. We …-market tightness and increases unemployment. In summary, the model predicts a positive relationship between inflation and unemployment … model with matching frictions in the labor market. Given the CIA constraint on R&D, a higher inflation that raises the …
Persistent link: https://www.econbiz.de/10010699652
Recent studies have indicated that the terms 'NAIRU' (non-accelerating inflation rate of unemployment) and 'natural … twentieth century. The analysis reveals that the overall inflation-forecasting utility of the natural rate of unemployment … rate of unemployment' are not interchangeable. While NAIRU is an empirical macroeconomic relationship estimated via a …
Persistent link: https://www.econbiz.de/10005835658