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This paper deals with a critical assessment and a reestimation of the "non-accelerating in ation rate of unemployment …
Persistent link: https://www.econbiz.de/10010297287
estimates the unemployment rate that is compatible with a tolerable inflation rate of say 2 percent following roughly the … compatible with 2 percent inflation in Germany is currently around 7 percent if the definition of unemployment follows the …
Persistent link: https://www.econbiz.de/10010297970
This article summarizes the studies about the Phillips curve in the Brazilian economy. Overall, the results are very sensitive to the time period, to the proxies adopted, to the econometric approach, and to the frequency and lags allowed to the variables. These results cast some doubts about the...
Persistent link: https://www.econbiz.de/10011372339
Harry Johnson's 1971 ideas about the factors affecting the success of the Keynesian Revolution and the Monetarist Counter-revolution are summarised and extended to the analysis of the Rational Expectations - New Classical (RE-NC) Revolution It is then argued that, whereas Monetarism brought...
Persistent link: https://www.econbiz.de/10011390725
unemployment on inflation seems to present in short term. In the long run, the estimations do not able to detect any impact of … unemployment on the dynamic of inflation. Finally, the structural break marks the relationship between the exchange rate and …
Persistent link: https://www.econbiz.de/10010330593
reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …
Persistent link: https://www.econbiz.de/10010332011
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 …
Persistent link: https://www.econbiz.de/10010334647
We study the time path of inflation and unemployment using the Blanchard treatment of the relationship between the two … the results. The economic dynamics of inflation and unemployment shows that they fluctuate around their intertemporal … equilibria, inflation around the growth rate of nominal money supply, respectively, and unemployment around the natural rate of …
Persistent link: https://www.econbiz.de/10011571071
economists to engage with Phillips' famous unemployment/wage-inflation analysis, now referred to as the Phillips curve. They …
Persistent link: https://www.econbiz.de/10011592229
Persistent link: https://www.econbiz.de/10011592241