| dc.creator |
Karanassou, Marika |
|
| dc.creator |
Sala, Héctor |
|
| dc.creator |
Snower, Dennis J. |
|
| dc.date |
2007 |
|
| dc.date.accessioned |
2013-10-16T06:55:54Z |
|
| dc.date.available |
2013-10-16T06:55:54Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
http://hdl.handle.net/10419/4032 |
|
| dc.identifier |
ppn:534972977 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/4032 |
|
| dc.description |
This paper argues that there is a nonzero inflation-unemployment tradeoff in the long-run due to frictional growth, a phenomenon that encapsulates the interplay of nominal staggering and money growth. The existence of a downward-sloping long-run Phillips curve suggests the development of a holistic framework that can jointly explain the evolution of inflation and unemployment. Hence, we estimate an interactive dynamics model for the US that includes wage-price setting and labour market equations. We then evaluate the inflation-unemployment tradeoff and assess the impact of productivity, money growth, budget deficit, and trade deficit on the unemployment and inflation trajectories during the nineties. |
|
| dc.language |
eng |
|
| dc.publisher |
Kiel Institute for the World Economy (IfW) Kiel |
|
| dc.relation |
Kieler Arbeitspapiere 1350 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
E31 |
|
| dc.subject |
E51 |
|
| dc.subject |
E24 |
|
| dc.subject |
E62 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
Inflation dynamics |
|
| dc.subject |
Unemployment dynamics |
|
| dc.subject |
Phillips curve |
|
| dc.subject |
Roaring nineties |
|
| dc.subject |
Phillips-Kurve |
|
| dc.subject |
New-Keynesian Phillips Curve |
|
| dc.subject |
Theorie der Arbeitslosigkeit |
|
| dc.subject |
Wirtschaftswachstum |
|
| dc.subject |
Schätzung |
|
| dc.subject |
USA |
|
| dc.title |
The evolution of inflation and unemployment: Explaining the roaring nineties |
|
| dc.type |
doc-type:workingPaper |
|