The Return of the Long-Run Phillips Curve

This paper shows that the interaction between money growth and staggered nominal contracts gives rise to a long-run inflation-unemployment tradeoff.

Year of publication:	2002-11
Authors:	Graham, Liam ; Snower, Dennis J.
Institutions:	Institute for the Study of Labor (IZA)
Subject:	inflation \| unemployment \| Phillips curve \| nominal inertia \| monetary policy \| forward-looking expectations

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Extent:	application/pdf
Series:	IZA Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 3 Number 646 18 pages
Classification:	E2 - Consumption, Saving, Production, Employment, and Investment ; E3 - Prices, Business Fluctuations, and Cycles ; E4 - Money and Interest Rates ; E5 - Monetary Policy, Central Banking and the Supply of Money and Credit
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005822071