We propose a monetary model in which the unemployed satisfy the official US definition of unemployment: they are people ….e., unemployment is ‘involuntary’). We integrate our model of involuntary unemployment into the simple New Keynesian framework with no … capital and use the resulting model to discuss the concept of the ‘non-accelerating inflation rate of unemployment’. We then …

construct a monetary model in which: i) the unemployed are worse off than the employed, i.e. unemployment is involuntary and ii … of the labor force and unemployment rate to these three shocks. …

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 …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …

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. …

model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …

-run inflation-unemployment tradeoff. …

model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …

This paper takes a new look at the long-run dynamics of inflation and unemployment in response to permanent changes in …, we construct an empirical model of the Spanish economy and, in this context, we evaluate the long-run inflation-unemployment …

This paper takes a new look at the long-run dynamics of inflation and unemployment in response to permanent changes in …, we construct an empirical model of the Spanish economy and, in this context, we evaluate the long-run inflation-unemployment …