Browsing Finance & Economics by Author "van Buggenum, Hugo"
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Nonlinear unemployment effects of the inflation tax
Mohammed, Ait Lahcen; Baughman, Garth; Rabinovich, Stanislav; van Buggenum, Hugo ( Elsevier , 2022 , Article)Long-run inflation has nonlinear and state-dependent effects on unemployment, output, and welfare. We show this using a standard monetary search model with two shocks – productivity and monetary – and frictions in both ...