This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … effects. 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. Our empirical analysis suggests that this Phillips curve may be …

Many central banks target an inflation rate near two percent. This essay argues that policymakers would do better to … target four percent inflation. A four percent target would ease the constraints on monetary policy arising from the zero … cost, because four percent inflation does not harm an economy significantly. …

variables move over time and analyzes how they influence macroeconomic variables such as economic growth, inflation, savings and …

, Bank Rate and CRR kept unchanged. * GDP growth forecast at around 8.0 per cent during 2006-07. * Inflation to be contained …

werden. Es wäre somit wünschenswert, wenn die EZB ihre begonnene restriktive Geldpolitik fortsetzen würde. Hans Wolfgang …