increased unemployment by 61.0 per cent decrease in the variation in expected inflation associated with a unit change in the … variation between the potential and actual rates of unemployment over the study horizon, which confirms theoretical expectations …

not the case. Although unemployment is low, the labor market is not 'tight'. On the contrary, we show that what matters …, just as in the Great Recession we anticipate deflation in the near future, coupled with rising joblessness and recession. …

' PC (relating the level of the inflation rate, not the change in this rate, to the rate of unemployment); and the …