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 …

In order to provide medium run forecasts of headline and core HICP inflation for the euro area, we assess the … indicators help improve upon the simple Autoregressive (AR) model for forecasting HICP core inflation as well total inflation, if … in inflation in a timely manner. But, from that point of view, the construction of a ''synthetic core'' indicator helps …

transformed money demand, in addition to the observed output gap and inflation, into a simple but optimal interest rate rule …

high degree of exchange rate pass-through to headline inflation and the weak monetary transmission mechanism in PICs … suggest a greater efficacy of exchange rate changes in affecting inflation rather than monetary policy. To assess the tradeoff … rate changes and headline inflation and the low interest rate sensitivity of aggregate demand. …

Abwärtsnominallohnrigidität selbst vom inflationären Umfeld abhängt und in Jahren mit niedriger Inflation sinkt. This paper examines the existence … nominal wage rigidity - under a constant degree of rigidity - are the higher, the lower the inflation rate is. For inflation … of the rigidity itself sinks during years of low inflation. …

ratio means a large loss of gross domestic product (GDP) or employment for a given reduction in inflation. In order to … estimate the cost of adjustments in inflation rates by the sacrifice ratio, we apply, firstly, a Structural Vector …

economic agents´ inflation expectations. Real marginal costs are proxied by three different measures. The results suggest that … OECD inflation forecasts perform relatively well as a proxy for inflation expectations in the euro area, since under this … approach the European inflation process can be modeled using the forward-looking New Keynesian Phillips curve. However …