We extend the `rational-partisan' model of inflation to allow for the effects of unemployment persistence on the … to the failure of political parties to precommit to price stability, in the light of unemployment persistence. Elections …

Compares Layard, Nickell and Jackman's empirical model of UK unemployment with other time-series econometric studies to … such as benefits, union strength, mismatch, taxes, the exchange rate and hysteresis. Highlights and discusses differences … the kind of interactions between wages, prices and unemployment that Layard, Nickell and Jackman include in their model. …

Compares Layard, Nickell and Jackman′s empirical model of UK unemployment with other time‐series econometric studies to … such as benefits, union strength, mismatch, taxes, the exchange rate and hysteresis. Highlights and discusses differences … the kind of interactions between wages, prices and unemployment that Layard, Nickell and Jackman include in their model.  …