-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 …

This paper shows that Livingston Survey measures of unemployment uncertainty are positively correlated with inflation …, that inflation Granger Causes unemployment uncertainty and that shocks to inflation uncertainty or unemployment uncertainty … have similar effects on real GDP growth. This suggests higher unemployment uncertainty is a cost of higher inflation that …

exist two or no balanced paths while stationary equilibria with zero inflation exist only on a small (non-open) set of … and stability are influenced in a decisive way by fiscal and monetary parameters determining steady state inflation rates …

labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great … Recession: a decline in productivity growth, the relative stability of inflation despite a pronounced fall in output (the … aggregate demand raises unemployment and the training costs associated with skill obsolescence. Lower employment hinders …

find a positive and significant relationship between sales and unemployment and perform a time series principal component …

-to-job transitions, while negative shocks occasionally throw them back into unemployment. The state of the economy includes the … to mimic the US Great Recession unemployment dynamics, firms reduce hiring, causing the job ladder to all but "stop … inflation dynamics that resemble the missing disinflation of that period. …

output gap, and inflation in Chile, Korea, Mexico, and Turkey, using a generalized vector autoregression analysis. Nominal … historical wage shocks are shown to have an important effect on movements in inflation only in Mexico. Generalized impulse … reduction in output. Inflation increases in all countries, particularly Mexico. A positive shock to nominal money growth raises …

unemployment around 2009–2010. The slopes of the disaggregated Phillips curves diminished in many sectors, including housing and … some services. We also document a decrease in sectoral inflation persistence, suggesting an increase in the weight of the … forward-looking inflation expectation component and a decrease in the weight of the backward-looking component …

spheres that these pressures are disappearing. The largest advanced economies are growing up to their potential, unemployment …

firms) and a measure of wage entitlement are critical to fit the dynamic responses of hours, wages and inflation to various … significant fall of inflation and nominal wage growth in response to a neutral technology shock …