reciprocal relationship. The variables considered are: unemployment, inflation, consumptions, investments and current accounts … between final consumption, imports and current account, i) we show why a stable and growing inflation differential is not … sustainable, but argue that internal devalution is not an effective policy, pushing inflation rates to a worrisome lower level and …

Low rates of inflation have been recorded in recent years, despite a decline in the unemployment rate. This phenomenon … explain the recent behavior of inflation. A leading explanation for recent inflation performance appears to be favorable price …

The evolution of the rate of price inflation and unemployment in Japan has been modeled within the Phillips curve … unemployment results in decreasing inflation. A linear and lagged generalized Phillips curve expressed as a link between inflation …-term inflation and unemployment forecast: the GDP deflator will be negative (between -0.5% and -2% per year) during the next 40 years …

The low rate of inflation observed in the U.S. over the entire past decade is hard to reconcile with traditional … the job explains this missing inflation. We derive this novel concept of slack from a model in which a drop in the on …

The response of US inflation to the high levels of spare capacity during the Great Recession of 2007-09 was rather … inflation, and either the closing of this gap or non-linearities in the Phillips curve could lead to a sudden pick-up in … inflation. We revisit these issues by estimating Phillips curves over 1992Q1 to 2015Q1. Our main findings suggest that a …

The low rate of inflation observed in the U.S. over the past decade is hard to reconcile with traditional measures of … labor market slack. We develop a theory-based indicator of interfirm wage competition that can explain the missing inflation …, raising inflation by around 1 percentage point during most of 2021. …