economy is due to cyclic reasons coming from lack of demand which prevents unemployment from falling quickly. Knowing whether …Persistent unemployment after recessions and the policies required to bring it down are the subject of an ongoing … unemployment, requiring the implementation of structural policy reforms. The alternative view is that the slow recovery of the …

employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …