-run positive relationship between inflation and unemployment. …

enjoy such strong economic growth and resulting low unemployment rates without an upturn in inflation? The author reviews …

There is wide agreement that the dynamics of inflation and unemployment are influenced by supply and demand shocks … approach to decompose movements in U.S. postwar unemployment and inflation into three orthogonal components. These components … observable variables in sensible ways, and they are used to analyze and interpret inflation-unemployment tradeoffs and postwar …