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 …, a rise in the inflation rate leads workers to supply more labor over the contract period, generating a significant …

In this paper we investigate the relationship between inflation and unemployment in Australia, post 1959. We focus on … also estimate the nonaccelerating inflation rate of unemployment (NAIRU), focussing on both the level of the NAIRU, and the …

reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …

plausible numerical simulations, economic openness reduces the sacrifice ratio. Regarding a monetary union, aggregate inflation …

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