) shifts with productivity growth. On this basis we estimate a dynamic system of macrolabour equations to evaluate the slope of … the PC and explain the evolution of inflation and unemployment in the US from 1970 to 2006. Since our empirical …-run. Furthermore, during the stagflating 70s, the productivity slowdown contributed substantially to the increases in both unemployment …

) shifts with productivity growth. On this basis we estimate a dynamic system of macrolabour equations to evaluate the slope of … the PC and explain the evolution of inflation and unemployment in the US from 1970 to 2006. Since our empirical …-run. Furthermore, during the stagflating 70s, the productivity slowdown contributed substantially to the increases in both unemployment …

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 …

' PC (relating the level of the inflation rate, not the change in this rate, to the rate of unemployment); and the …

framework we examine the twelve potential intertemporal relationships between inflation, growth and their respective … uncertainties using US data. We find that high inflation is detrimental to output growth both directly and indirectly via the … nominal uncertainty. Output growth boosts inflation but mainly indirectly through a reduction in real uncertainty. Our …

current inflation rates and adaptive expectations concerning the inflation climate in which the economy operates. The model … Taylor-rule-type interest rate law of motion. Through instrumental variables GMM system estimation with aggregate time series … correction terms, and indirectly of income distribution, in the dynamics of wage and price inflation in the U.S. and the euro …

rate rule. It is based on sticky wages and prices, perfect foresight of current inflation rates and adaptive expectations … concerning the inflation climate in which the economy operates. A version of Okun's law is used to link capacity utilization to … will lose this feature if the inflationary climate variable or the price inflation rate itself adjusts sufficiently fast …

the Phillips curve over time. We consider different specifications and different measures for inflation. Furthermore, we … include stochastic volatility for the observation errors. Our estimation results are based on practical Bayesian state space ….S. headline inflation has remained empirically relevant over the years. …

the Phillips curve over time. We considerdifferent specifications and different measures for inflation. Furthermore, we … include stochastic volatility for the observation errors. Our estimation results are based on practical Bayesian state space ….S. headline inflation has remained empirically relevant over the years …

chain reactions, and provides new evidence on the long-run inflation-unemployment tradeoff in the US. It is argued that … inflation/unemployment responses to money growth shocks. SVAR (structural vector autoregression) and GMM (generalised method of … and real sides of the economy are symbiotic. In the light of the significant and robust long-run inflation …