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Replication data for: Inflation and Unemployment in the Long Run

Resource Type
  • Berentsen, Aleksander
  • Menzio, Guido
  • Wright, Randall
Publication Date
  • Abstract

    We study the long-run relation between money (inflation or interest rates) and unemployment. We document positive relationships between these variables at low frequencies. We develop a framework where money and unemployment are modeled using explicit microfoundations, providing a unified theory to analyze labor and goods markets. We calibrate the model and ask how monetary factors account for labor market behavior. We can account for a sizable fraction of the increase in unemployment rates during the 1970s. We show how it matters whether one uses monetary theory based on the search-and-bargaining approach or on an ad hoc cash-in-advance constraint. (JEL E24, E31, E41, E43, E52)
  • Is supplement to
    DOI: 10.1257/aer.101.1.371 (Text)
  • Berentsen, Aleksander, Guido Menzio, and Randall Wright. “Inflation and Unemployment in the Long Run.” American Economic Review 101, no. 1 (February 2011): 371–98.
    • ID: 10.1257/aer.101.1.371 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-11

Berentsen, Aleksander; Menzio, Guido; Wright, Randall (2011): Replication data for: Inflation and Unemployment in the Long Run. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset.