productivity growth and high unemplyoment. Subsequent research has shown that the standard model of unemployment actually gives … counterfactual predictions. Motivated by the observation that the 1970s were also characterized by high and rising inflation …, Tesfaselassie and Wolters examine the effect of growth on unemployment in the presence of nominal price rigidity. The authors …

rate of inflation is relatively high, as was the case in the 1970s. In general, the effect of growth on unemployment is …The standard search model of unemployment predicts, under plausible assumptions about household preferences, that … disembodied technological progress leads to higher unemployment. This prediction is at odds with the experience of industrialized …

This paper deals with a critical assessment and a reestimation of the "non-accelerating in ation rate of unemployment …

This paper deals with a critical assessment and a reestimation of the "non-accelerating in ation rate of unemployment …

estimates the unemployment rate that is compatible with a tolerable inflation rate of say 2 percent following roughly the … compatible with 2 percent inflation in Germany is currently around 7 percent if the definition of unemployment follows the … Phillips curve, the sum of coefficients associated with expected inflation is far beyond unity, whatever measure of expected …

variables. These results cast some doubts about the ability of the Phillips curve to describe the dynamics of inflation in the …