- although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly … models can generate both substantial inflation persistence and a nonzero inflation-unemployment tradeoff in the long … asserted that, in the context of the new Phillips curve (NPC), inflation is a jump variable. We argue that this persistency …

" - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly …-price staggering models can generate both substantial inflation persistence and a nonzero inflation-unemployment tradeoff in the long … asserted that, in the context of the new Phillips curve (NPC), inflation is a jump variable. We argue that this "persistency …

" - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly …-price staggering models can generate both substantial inflation persistence and a nonzero inflation-unemployment tradeoff in the long … asserted that, in the context of the new Phillips curve (NPC), inflation is a jump variable. We argue that this "persistency …

This paper analyses the relation between US inflation and unemployment from the perspective of quot;frictional growth … policy has not only persistent, but permanent real effects, giving rise to a long-run inflation-unemployment tradeoff. We … the US unemployment and inflation trajectories during the nineties …

- although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly … models can generate both substantial inflation persistence and a nonzero inflation-unemployment tradeoff in the long … asserted that, in the context of the new Phillips curve (NPC), inflation is a jump variable. We argue that this persistency …

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

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

values, high degrees of inflation persistence (prolonged after-effects of inflation in response to temporary money growth …It is commonly asserted that inflation is a jump variable in the New Keynesian Phillips curve, and thus wage …-price inertia does not imply inflation inertia. We show that this "inflation flexibility proposition" is highly misleading, relying …