This paper provides an empirical investigation of the wage, price and unemployment dynamics that have taken place in … to lead to increasing unemployment, slowdown in productivity growth, higher interest rates, and loss of competitiveness …

This paper provides an empirical investigation of the wage, price and unemployment dynamics that have taken place in … achieved by two types of Phillips curve mechanisms; one where the inflation/unemployment trade-off was triggered off for … rate and the interest rate. Excess wages and/or increasing cost levels in the tradable sector led to higher unemployment …

Recently, the unemployment gap in the euro area has fallen markedly. However, wages increased less than predicted by … alternative measures for labor market slack, namely the unemployment gap and the European Commission's labor shortage indicator …