Previous studies have interpreted the rise and fall of U.S. inflation after World War II in terms of the Fed's changing … the low-inflation policy recommended by a natural rate model even after economists had developed statistical evidence … inflation rate in light of updated probabilities that it assigns to three competing models of the Phillips curve. Cautious …

hyperbolic discounting leads to inflation having significant long-run effects on real variables. …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth," describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation and … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no …

How are inflation and unemployment related in the long run? Are they negatively correlated, as in the so-called naive … in his Nobel lecture? In this paper inflation is introduced into a general equilibrium search unemployment model. We show … of inflation. …

the NKPC does a reasonably good job of reproducing the dynamic link between current output and future inflation. It fails … inflation and output persistence. The assumption of inflation inertia improves a model?s performance of reproducing inflation … persistence and the dynamic inflation-output link. A significant improvement requires high intensity of inflation inertia. The fit …

Bei Vorliegen nach unten starrer Nominallöhne erschwert niedrige Inflation Reallohnanpassungen und führt so … Auswirkungen bei sehr niedriger Inflation nicht zu vernachlässigen sind. Die Ergebnisse dieser Literatur sollten daher bei der …In the presence of downwardly rigid nominal wages, low inflation may lead to higher equilibrium unemployment by …

-run inflation-unemployment tradeoff. …