framework for inflation as a process of restructuring. Contrary to existing theories of inflation, which tend to take structure … and institutions as given for the purpose of analysis, we argue that inflation could be understood only in terms of … restructuring arises as an integral part of capital accumulation. On the aggregate level, inflation appears as stagflation, with the …

emerged from great inflation and output instability into a period of remarkably low inflation associated with a great …

Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been … remarkably stable. We find that a traditional Phillips curve describes the behavior of inflation reasonably well since the 1960s … observed stability of inflation: inflation expectations have become better anchored and to a lower level; the slope of the …

-market slack is captured by the level of shortterm unemployment. This equation explains inflation behavior since 2000, including … the failure of high total unemployment since 2008 to reduce inflation greatly. The fit of our equation is especially good … general Phillips curve in which core inflation depends on short-term unemployment and on expected inflation as measured by the …

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 …

labor force. During the last twenty-five years, unemployment in the USA has been a lagged linear function of inflation. In … years before. One can predict the unemployment rate in the USA in the following two years within the accuracy of inflation …. A model is developed linking the measured inflation (consumer price index or GDP deflator), unemployment and change in …