towards inflation targeting in monetary policy and an unprecedented surge in labour supply due to higher immigration rates. We …-bargaining pattern, has been changed by labour immigration or by inflation targeting monetary policy. An explanation of why we do not … arbitration system itself has syncronized the inflation expectations of the social partners. In that analysis, inflation targeting …

This paper examines the relationship between unemployment, real oil price and real interest rates in Canada. Instead of …/cointegration techniques which allow for the possibility that unemployment is highly persistent. In line with other studies, we find that all … equilibrium model with highly persistent shocks might be adequate to account for the observed behaviour of unemployment …

This article is concerned with the dynamic behaviour of UK unemployment. However, instead of using traditional … suggest that the UK unemployment may be explained in terms of lagged values of the real oil prices and the real interest rate …, with the order of integration of unemployment ranging between 0.50 and 1. Thus, unemployment shows the characteristics of …

The paper presents an incomplete competition model (ICM), where inflation is determined jointly with unit labour cost … growth. The ICM is estimated on data for the Euro area and evaluated against existing models, i.e. the implicit inflation …. There is, however, some support in favour of the (reduced form) AWM inflation equation. It is the only model that …

inflation is found to be quite sensitive to the unemployment gap. An increase in cyclical unemployment by 1 percentage point …We set up and estimate a structural unobserved components open economy model for the rate of unemployment and the real … factors. Thus, the results indicate that the dramatic changes in the Swedish unemployment rate during the 1990s mainly was a …

implications of variable labor force participation rates for inflation and establish the following result: if endogenous movements … dynamics. Indeed, during recessions, the upward pressures on inflation stemming from the lack of a downward adjustment in real …

What are the tradeoffs that the public is willing to accept between inflation and unemployment? We find that people … dislike unemployment more than inflation. This is true for both Europe and Latin America. For the latter, the aversion to … unemployment relative to inflation is much greater. Moreover, in both regions, the poor's distaste for unemployment relative to …

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 …

-specific labour imply a sufficient degree of real rigidity, and so can reproduce inflation dynamics well. However, they imply too … little real rigidity and, so, too volatile inflation, owing to strong responses of marginal wages and hours per employee … the responses of wages, inflation and employment …