productivity growth particularly for the US. We conclude that a better understanding of the inflation-unemployment tradeoff …This paper seeks to understand dynamics of inflation and marginal cost (labor share) in models that account for the … inclusion of productivity shocks in standard New Keynesian Phillips Curve (NKPC). The question of interest is on the empirical …

aggregate inflation and the higher-order moments of the distribution of relative price changes. Our empirical findings confirm … explanatory variable for the inflation rate. Further, the skewness measure also helps to explain shifts in the Phillips curve …

inflation and unemployment. We focus on the G7 economies plus Spain, and use monthly data –high-frequency data in a macro …

examine the relevance of the cost channel for inflation dynamics in G7 countries. Since firms' costs of working capital … inflation responses to monetary policy shocks, and can even lead to inverse inflation responses, when the cost channel is …

up in the following: i) the pass-through to the next month inflation is around 0.04 percentage points (p.p.) (0.48 p ….p. over the annualized inflation); ii) a shock on the unemployment rate lasts for 18 months; iii) a shock on the expectations … are carried to the next month inflation (0.58 p.p. over the annualized inflation); and iv) a shock on the inflation rate …

) restrictions over the sum of the coefficients associated with inflation; b) the coefficient associated to the expectation of … inflation is greater than the coefficient associated with past inflation (which is in contrast with previous studies to the … determinants of current inflation. …

linked to the monetary policy regime. Before and after the "Great Inflation", nominal wages moved in the same direction as … the (required) adjustment of real wages, and in the opposite direction of the price response. During the "Great Inflation … increasing inflation volatility. Using a standard DSGE model, we show that these stylized facts, in particular the estimated …

linked to the monetary policy regime. Before and after the "Great Inflation", nominal wages moved in the same direction as … the (required) adjustment of real wages, and in the opposite direction of the price response. During the "Great Inflation … increasing inflation volatility. Using a standard DSGE model, we show that these stylized facts, in particular the estimated …

in aggregate demand, unemployment rate, real wage and labour productivity, which captures key components of the labour … model to identify four structural innovations: aggregate demand, labour supply, wage bargaining, and productivity; (iii …; and (v) indicates their robustness to estimation of the impulse responses with stationary variables or in levels, and via …

rate and the unemployment rate? In the model, fluctuations are prominently driven by productivity shocks which are commonly …