labor input, but it predicts a strong counterfactually negative long run relationship between inflation and unemployment … negative long run relationship between trend inflation and unemployment provides indirect evidence against the proposed …. -- Sticky wages ; staggered Nash bargaining ; trend inflation ; unemployment ; search and matching …

The low rate of inflation observed in the U.S. over the entire past decade is hard to reconcile with traditional … the job explains this missing inflation. We derive this novel concept of slack from a model in which a drop in the on …

hand and the inflation rate on the other hand. Empirically, we estimate this relationship by developing three different … markets for goods and services will push up inflation. We show the empirical relevance of the modified output gap for Spain …

-the-job search makes such wage competition less likely, reducing expected labor costs and lowering inflation. This model explains why … inflation has remained subdued over the last decade, which is a conundrum for general equilibrium models and Phillips curves …

The low rate of inflation observed in the U.S. over the past decade is hard to reconcile with traditional measures of … labor market slack. We develop a theory-based indicator of interfirm wage competition that can explain the missing inflation …, raising inflation by around 1 percentage point during most of 2021. …