implications for the unemployment-inflation tradeoff and for the conduct of monetary policy.We proceed in two steps. We first leave … firms. We derive the relation between inflation and unemployment and discuss how it is influenced by the presence of labor … market frictions and real wage rigidities. We show the nature of the tradeoff between inflation and unemployment …

for the unemployment-inflation tradeoff and for the conduct of monetary policy.lt;brgt;lt;brgt;We proceed in two steps. We … staggered price setting by firms. We derive the relation between inflation and unemployment and discuss how it is influenced by …We construct a utility-based model of fluctuations, with nominal rigidities and unemployment, and draw its implications …

for the unemployment-inflation trade- off and for the conduct of monetary policy. We proceed in two steps. We first leave … firms. We derive the relation between inflation and unemployment and discuss how it is influenced by the presence of labor … market frictions and real wage rigidities. We show the nature of the tradeoff between inflation and unemployment …

setting by firms. We derive the relation between inflation and unemployment and discuss how it is influenced by the presence … of real wage rigidities. We show the nature of the tradeoff between inflation and unemployment stabilization, and we draw …We develop a utility based model of fluctuations, with nominal rigidities, and unemployment. In doing so, we combine …

We develop and estimate a structural model of inflation that allows for a fraction of firms that use a backward looking … measures of marginal cost as the relevant determinant of inflation, as the theory suggests, instead of an ad-hoc output gap …. Real marginal costs are a significant and quantitatively important determinant of inflation. Backward looking price setting …

inflation, economic fluctuations, and welfare. It is the backbone of the new generation of medium-scale models under development … at major central banks and international policy institutions, and provides the theoretical underpinnings of the inflation …, the implications for monetary policy are addressed, with a special emphasis on the desirability of inflation targeting …

inflation, economic fluctuations, and welfare. It is the backbone of the new generation of medium-scale models under development … at major central banks and international policy institutions, and provides the theoretical underpinnings of the inflation …, the implications for monetary policy are addressed, with a special emphasis on the desirability of inflation targeting …