in their unemployment rate and not a decline in labour force participation rate. Policymakers should take account of …

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of …

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price … significantly lower elasticity of marginal costs with respect to output. This helps to explain the sluggishness of inflation and the …

emphasis on their evolution over the business cycle. Blacks have substantially higher and more cyclical unemployment rates than … comparatively higher risk of job loss. In contrast, the Hispanic-white unemployment rate gap is comparatively small and is largely …

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 …

high during 2016-2019, keeping inflation below the Reserve Bank's target band. Optimal monetary policy in 2016-2019 would …

high during 2016-2019, keeping inflation below the Reserve Bank's target band. Optimal monetary policy in 2016-2019 would …