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
Authors:	Graham, Liam ; Snower, Dennis J.
Publisher:	Bonn : Institute for the Study of Labor (IZA)
Subject:	Phillips-Kurve \| Mikroökonomische Fundierung \| Theorie \| unemployment \| Phillips curve \| nominal inertia \| monetary policy \| forward-looking expectations \| inflation

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Series:	IZA Discussion Papers ; 646
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	846311445 [GVK] hdl:10419/2921 [Handle]
Classification:	E5 - Monetary Policy, Central Banking and the Supply of Money and Credit ; E4 - Money and Interest Rates ; E3 - Prices, Business Fluctuations, and Cycles ; E2 - Consumption, Saving, Production, Employment, and Investment
Source:	EconStor

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