"We study the long-run relation between money, measured by inflation or interest rates, and unemployment. We first … where both money and unemployment are modeled using explicit microfoundations, integrating and extending recent work in … macro and monetary economics, and providing a unified theory to analyze labor and goods markets. We calibrate the model, to …

We study the long-run relation between money, measured by inflation or interest rates, and unemployment. We first … where both money and unemployment are modeled using explicit microfoundations, integrating and extending recent work in … macro and monetary economics, and providing a unified theory to analyze labor and goods markets. We calibrate the model, to …