labor input, but it predicts a strong counterfactually negative long run relationship between inflation and unemployment … negative long run relationship between trend inflation and unemployment provides indirect evidence against the proposed …. -- Sticky wages ; staggered Nash bargaining ; trend inflation ; unemployment ; search and matching …

-the-job search makes such wage competition less likely, reducing expected labor costs and lowering inflation. This model explains why … inflation has remained subdued over the last decade, which is a conundrum for general equilibrium models and Phillips curves …

estimates. The research period has been characterised by high labour demand, negative supply shocks, high levels of inflation …

estimates. The research period has been characterised by high labour demand, negative supply shocks, high levels of inflation …

This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that … skilled workers increases the natural rate of unemployment and reduces total factor productivity with long- run effects on the … Beveridge curves. Skill-specific labour market heterogeneity leads to a attening of the Phillips curve as wages and unemployment …

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 … revisional property of the NAIRU is also examined, as well as the forecast capacity of the unemployment gap with regard to wages …

's macroeconomic performance. Stronger wage coordination and higher union density reduce the response of inflation to the business …

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 …

stock and flow data to understand key developments. We find dramatic changes in employment, unemployment and labour market …

for immigrants than for natives: a one percentage point increase in the unemployment rate is associated with a 0.61 and 0 …