find that the effect of unemployment on inflation, for given expected inflation, decreased until the early 1990s but has … below the pre-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than … anticipated, suggesting a breakdown of the relation between inflation and activity. To examine the first, we look at 122 …

unemployment on inflation,for given expected inflation, decreased until the early 1990s, but has remained roughly stable since then …-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a … breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years …

to re‑enter the labour market, resulting in further long‑term unemployment. Given these high costs for the unemployed and …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

The aim of the article is to clarify the controversies surrounding the relationship between inflation and unemployment … also an increase in inflation. The article, therefore, hypothesises that the relationships between unemployment and … economy, particularly the service sector. A decrease in aggregate supply should cause not only an increase in unemployment but …

wages and labor market shocks feed into the inflation process and derive monetary policy implications. Towards that aim, we …

wages and labor market shocks feed into the inflation process and derive monetary policy implications. Towards that aim, we …