Using a New Keynesian Phillips curve, we document the rapid and persistent increase in the natural rate of unemployment …, 𝑢𝑡 ∗ , in the aftermath of the pandemic and characterize its implications for inflation dynamics. While the bulk of the … inflation surge is attributed to temporary supply factors, we also find an important role for current and expected negative …

relating unemployment and vacancies to inflation, the link between these labor market indicators and inflation depends on … curve shifts between 1960 and 2000. A reduction in matching efficiency, that depressed unemployment outflows, shifted the … Beveridge curve is essential for drawing policy conclusions from the joint behavior of unemployment and job openings. …

, what in turn means that the pressure on inflation won’t drop, despite the fact that production level has not increased as …

relating unemployment and vacancies to inflation, the link between these labor market indicators and inflation depends on … curve shifts between 1960 and 2000. A reduction in matching efficiency, that depressed unemployment outflows, shifted the … Beveridge curve is essential for drawing policy conclusions from the joint behavior of unemployment and job openings. …

In this paper, the empirical analysis finds that the dynamics of inflation and unemployment can be described by a … Phillips curve when allowing for a positive co-movement between trend-adjusted productivity and unemployment. This suggests …. Furthermore, the natural rate of unemployment is a function of the long-term interest rate, indicating that monetary policy is not …

inflation. Among other things, the unemployment gap, which is the difference between unemployment rate and non …-accelerating inflation rate of unemployment (NAIRU), is used to measure inflationary pressure from the labour market. This paper examines … which of the NAIRU estimation methods described in the literature can be applied to Hungary. In evaluating the results, the …