unemployment. Juhn, Murphy, and Topel (2002) point out that the low unemployment rates for men in the 1990s were accompanied by … historically high rates of non-employment suggesting that the 1990s economy was not as strong as the unemployment rate might … the increase in women’s labor force participation more than offsets the decline for men, and low unemployment rates in the …

inflation to the unemployment rate and then invoked markup pricing and adaptive expectations to generate the accelerationist … in price inflation and the unemployment rate is consistent with any type of microeconomic real wage dynamics. However …

inflation. Among other things, the unemployment gap, which is the difference between unemployment rate and non …-accelerating inflation rate of unemployment (NAIRU), is used to measure inflationary pressure from the labour market. This paper examines … revisional property of the NAIRU is also examined, as well as the forecast capacity of the unemployment gap with regard to wages …

not the case. Although unemployment is low, the labor market is not 'tight'. On the contrary, we show that what matters …