This paper investigates the instability of capitalism defined as a condition under which capitalism creates inflation …, unemployment, and business cycles. Great economists such as Marx, Veblen, and Schumpeter have examined this problem, concluding … that capitalist instability will transform capitalism. A model is developed in this paper to investigate instability, and …

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 …

, inflation and unemployment, we detect a wrong sign in the response of inflation to contractionary monetary policy shocks … significant unemployment inflation trade-off emerges. These conclusions are confirmed by using industrial production instead of … the unemployment rate in the VAR model. …

Using a New Keynesian Phillips curve, we document the rapid and persistent increase in the natural rate of unemployment … unemployment gaps. Through the lens of the model, the 2022-23 disinflation was driven by the expectation that the unemployment gap … will close through a progressive decline in 𝑢𝑡 ∗ and a rise in the unemployment rate. This implies that convergence to …

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

find that the effect of unemployment on inflation, for given expected inflation, decreased until the early 1990s but has …

unemployment on inflation,for given expected inflation, decreased until the early 1990s, but has remained roughly stable since then …

This paper shows how uninsurable unemployment risk is crucial to qualitatively and quantitatively match macro responses … behaviors, triggering a fall in aggregate demand and supply. These precautionary behaviors increase the unemployment risk of the … imperfectly insured households, who strengthen precautionary saving. When the feedback loop between unemployment risk and …