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Money illusion and the long-run Phillips curve in staggered wage setting models
Vaona, Andrea - 2011
We consider the effect of money illusion - defined referring to Stevens' ratio estimation function - on the long-run Phillips curve in an otherwise standard New Keynesian model of sticky wages. We show that if households under-perceive real economic variables, negative money...
Persistent link: https://www.econbiz.de/10010277352
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Increasing returns to scale and the long-run Phillips curve
Vaona, Andrea; Snower, Dennis J. - 2006
A growing body of empirical evidence shows that there exists a long-run positive tradeoff between inflation and real … between inflation and output. …
Persistent link: https://www.econbiz.de/10010273150
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Increasing returns to scale and the long-run Phillips curve
Vaona, Andrea; Snower, Dennis J. - 2007
A growing body of empirical evidence shows that there exists a long-run positive tradeoff between inflation and real … between inflation and output. …
Persistent link: https://www.econbiz.de/10010325611
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Increasing Returns to Scale and the Long-Run Phillips Curve
Vaona, Andrea; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 2006
A growing body of empirical evidence shows that there exists a long-run positive tradeoff between inflation and real … between inflation and output. …
Persistent link: https://www.econbiz.de/10005700624
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Hyperbolic discounting and the Phillips curve
Graham, Liam; Snower, Dennis J. - 2007
hyperbolic discounting leads to inflation having significant long-run effects on real variables. …
Persistent link: https://www.econbiz.de/10010272966
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Hyperbolic Discounting and the Phillips Curve
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. …
Persistent link: https://www.econbiz.de/10005763519
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Hyperbolic Discounting and the Phillips Curve
Graham, Liam; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2007
hyperbolic discounting leads to inflation having significant long-run effects on real variables. …
Persistent link: https://www.econbiz.de/10005755254
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Money illusion and the long-run Phillips curve in staggered wage-setting models
Vaona, Andrea - In: Research in Economics 67 (2013) 1, pp. 88-99
We consider the effect of money illusion – defined referring to Stevens' ratio estimation function – on the long-run Phillips curve in an otherwise standard New Keynesian model of sticky wages. We show that if households under-perceive real economic variables, negative money...
Persistent link: https://www.econbiz.de/10010636534
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Money illusion and the long-run Phillips curve in staggered wage setting models
Vaona, Andrea - 2011
money illusion affects the short-run effects of a monetary shock. -- Phillips curve ; inflation ; nominal inertia ; monetary …
Persistent link: https://www.econbiz.de/10009244385
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The Return of the Long-Run Phillips Curve
Graham, Liam; Snower, Dennis J. - C.E.P.R. Discussion Papers - 2003
inflation and a permanent reduction in the level of unemployment. In short, we derive a microfounded long-run downward …
Persistent link: https://www.econbiz.de/10005791529