An argument that attempting to alleviate the burden of unemployment on the less affluent through expansionary monetary …

The subject of our next article, "The Taylor Curve and the Unemployment-Inflation Tradeoff," by Satyajit Chatterjee, is … the unemployment rate and the inflation rate, the so-called Phillips curve. Macroeconomists no longer view the Phillips …

This article characterizes the change in the nature of the money growth-inflation and unemployment …

in the natural rates of interest and unemployment. I show that certainty equivalent optimal policies perform poorly when … so to the perceived unemployment gap than the certainty equivalent policy. This robust estimation/policy combination is …

The "unemployment gap" is an important factor in monetary policy decisions. But the size of the gap depends on the … level of natural rate of unemployment, which is inherently unobservable. The uncertainty surrounding estimates of the … unemployment rate rather than to the implied unemployment gap. …