-run Phillips curve between inflation and unemployment and a trade-off between price distortions and output hysteresis that change … hysteresis effects on unemployment and output. Price level targeting or a Taylor-rule responding to the unemployment rate can …

-run Phillips curve between inflation and unemployment and a trade-off between price distortions and output hysteresis that change … hysteresis effects on unemployment and output. Price level targeting or a Taylor-rule responding to the unemployment rate can …

-run Phillips curve between inflation and unemployment and a trade-off between price distortions and output hysteresis that change … hysteresis effects on unemployment and output. Price level targeting or a Taylor-rule responding to the unemployment rate can …

severe and prolonged macroeconomic shock affects wage rigidity and unemployment. Our second survey was conducted in 1998 …, when the unemployment rate was much higher, and the inflation rate much lower, than when we conducted the first survey in … 1991. We find no evidence that the increase in unemployment has softened the mechanisms generating wage rigidity. On the …

severe and prolonged macroeconomic shock affects wage rigidity and unemployment. Our second survey was conducted in 1998 …, when the unemployment rate was much higher, and the inflation rate much lower, than when we conducted the first survey in … 1991. We find no evidence that the increase in unemployment has softened the mechanisms generating wage rigidity. On the …