KARANASSOU, MARIKA; SALA, HECTOR; SNOWER, DENNIS J. - In: Australian Economic Papers 47 (2008) 4, pp. 334-354
This paper analyses the relation between US inflation and unemployment from the perspective of 'frictional growth,' a phenomenon arising from the interplay between growth and frictions. In particular, we focus on the interaction between money growth and nominal frictions. In this context we show...