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 …

weaker linkages bewteen inflation and real credit growth within Europe. While the euro area is the dominant source of …

Rational Beliefs it is shown instead that inflation and recessions can be substantially aggravated by the distribution of …

section, various underpinnings of the "Phillips curve" relation between inflation and output are reviewed. All are concluded …

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 …

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 …

variations over time in the central bank's inflation target. We derive a closed-form solution for the model, and analyze its … monetary policies and inflation persistence. In particular, we employ the model to illustrate and assess the critique that …