Graham, Liam; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2008
hyperbolic discounting leads to inflation having significant long-run effects on real variables. …
Keywords: inflation, unemployment, Phillips curve, nominal inertia, monetary policy,
dynamic general equilibrium …
model for monetary policy for future work.
According to the new Neoclassical Synthesis, unemployment can be divided
into …