yielded a dual effect: lowering both output growth and inflation rates, while concurrently exacerbating unemployment rates …Governments worldwide implemented various fiscal and monetary measures to address the adverse impacts of COVID-19 on …) model to analyze the effects of the monetary policy responses of the OECD governments, and the obtained results reveal that …

inflation is relatively high, as was the case in the 1970s. In general, the sign of the effect of growth on unemployment is …The standard search model of unemployment predicts, under realistic assumptions about household preferences, that … disembodied technological progress leads to higher steady-state unemployment. This prediction is at odds with the 1970s experience …

unemployment and above which faster growth leads to lower unemployment. The threshold level in turn depends on labor market … productivity growth and high unemplyoment. Subsequent research has shown that the standard model of unemployment actually gives … counterfactual predictions. Motivated by the observation that the 1970s were also characterized by high and rising inflation …