This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth", describing the … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no … permanent nominal rigidities, and no departure from rational expectations, there is a long-run inflation-unemployment tradeoff …

Artículo de revista ; This article analyses the link between the changes in and the drivers of inflation in a broad … range of advanced economies, with special emphasis on those of the euro area. Inflation rates are seen to be highly … common monetary policy. Also, the comovement of inflation is found to be a phenomenon that tends to be more visible in the …

resolver este problema ; In this paper we look at global inflation trends over the last decade and try to disentangle factors … that could explain the ultra-low levels of inflation during the recovery from the Great Recession. We review the literature … inflation’s reduced cyclical sensitivity to domestic economic slack, a bigger role being played by forward-looking inflation …

Inflation sinkt.Das Anliegen des zweiten Beitrags, Abwärtsnominal- und Tariflohnstarrheit in Deutschland, ist, sowohl nach unten … implications of the downward nominal wage rigidity—under a constant degree of rigidity—increase for lower inflation rates. For … inflation rates less than two per-cent the real implications are non-negligible. Additionally, the degree of rigidity itself …

subsectors, at least not given the used identification strategy. This could be due to the fact that this theory regards the …

-heterogeneity on the response of aggregate inflation to exogenous shocks. We build up an otherwise standard DSGE model in which the … market we reproduce the main features of the distribution of firms in Spain. We then compare the inflation response to … predominate tend to deliver more muted inflation responses to exogenous shocks …

average forecast accuracy of models that incorporate information on inflation expectations from the ECB’s SPF and Consensus … Economics compared to their counterparts that do not. The gains in forecast accuracy from incorporating inflation expectations … countries). The analysis is undertaken for headline inflation and inflation excluding energy and food and both point and density …

Using a large panel of administrative records on unemployment durations this study confirms the predictions of the … ranking model of Blanchard and Diamond (1994) that an individual’s probability of leaving unemployment decreases with … unemployment duration and increases with labour market tightness. I find no strong empirical evidence to support the further …