We propose that the natural rate of unemployment has an active role in the business cycle, in contrast to the … Phillips-curve framework of low - often extremely low - response of inflation to unemployment could be the result of fairly … most Phillips-curve studies, that conclude that inflation has little relation to unemployment. We suggest that the flat …

Depression in the United States. Germany experienced a recovery as fast and strong in the 1930s. What role did inflation … Germany across two different methods: we conduct a narrative study of media sources and estimate inflation expectations from a …

sharp rise in inflation. Applied to Germany and the euro area, the model suggests that the surge in inflation has mainly …

industry, age, and income quintile. Inflation is negatively correlated with unemployment across groups. The model shows that …

Household Panel survey for Germany. Employing an interdisciplinary approach that integrates insights from political science and …

Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past …