Dolado, Juan J.; López-Salido, J. David; Vega, Juan L. - In: Spanish Economic Review 2 (2000) 3, pp. 267-291
This paper studies the dynamic behavior of inflation and unemployment in Spain during the period 1964-1997. In particular, we analyze the implications of high persistence in both unemployment and inflation dynamics for inference regarding the size of Phillips trade-offs and sacrifice ratios in...