Hysteresis in unemployment - comments

Varadarajan Chari

Conference Series ; [Proceedings], 2008

Abstract: Larry Ball's paper contains two basic ideas. The first is a second generation Phillips Curve which relates changes in inflation to the level of the unemployment rate and the second is the idea that monetary policy has extremely persistent effects on the unemployment rate, well beyond effects over the business cycle.

Keywords: Inflation (Finance); Unemployment; Phillips curve (search for similar items in EconPapers)
Date: 2008
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