labor input, but it predicts a strong counterfactually negative long run relationship between inflation and unemployment … negative long run relationship between trend inflation and unemployment provides indirect evidence against the proposed …. -- Sticky wages ; staggered Nash bargaining ; trend inflation ; unemployment ; search and matching …

The low rate of inflation observed in the U.S. over the entire past decade is hard to reconcile with traditional … the job explains this missing inflation. We derive this novel concept of slack from a model in which a drop in the on …

We assess the empirical relevance for inflation dynamics of accounting for the presence of search frictions in the … labor market. The New Keynesian Phillips curve explains inflation dynamics as being mainly driven by current and expected … with observed inflation persistence. We argue that, allowing for search frictions in the labor market, real marginal cost …

The New Keynesian Phillips curve explains inflation dynamics as being driven by current and expected future real … remains significant, and that inflation dynamics are mainly driven by the forward-looking component. Bayesian estimation of …