The author evaluates the effect of the Bank of Canada's conditional commitment regarding the target overnight rate on … longer-term market interest rates by taking into account the relationship between interest rates, inflation, and unemployment … rates. By using vector autoregressive models of monthly interest rates, month-over-month inflation, and unemployment rates …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ``frictional growth,'' describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation, and … permanent nominal rigidities, and no departure from rational expectations, there is a long-run inflation-unemployment tradeoff. …

The global economy has witnessed many economic fluctuations and waves of inflation and recession. With the … consideration of achieving price stability as a primary goal of the economic policies, any attempt to eliminate inflation means …”, who developed the inflation/unemployment curve. After the emergence of the stagflation phenomenon, this relationship …

The global economy has witnessed many economic fluctuations and waves of inflation and recession. With the … consideration of achieving price stability as a primary goal of the economic policies, any attempt to eliminate inflation means …”, who developed the inflation/unemployment curve. After the emergence of the stagflation phenomenon, this relationship …

The global economy has witnessed many economic fluctuations and waves of inflation and recession. With the … consideration of achieving price stability as a primary goal of the economic policies, any attempt to eliminate inflation means …', who developed the inflation/unemployment curve. After the emergence of the stagflation phenomenon, this relationship …

Most wage-contracting models with rational expectations fail to replicate the persistence in inflation observed in the … data. We argue that coordination problems and multiple equilibria are the keys to explaining inflation persistence. We … thus rational. Based on quarterly U.S. data over the period 1955-2000, we find evidence that inflation is more persistent …