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The return of the long-run Phillips curve

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dc.creator Graham, Liam
dc.creator Snower, Dennis J.
dc.date 2003
dc.date.accessioned 2013-10-16T06:01:45Z
dc.date.available 2013-10-16T06:01:45Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/2960
dc.identifier ppn:362737851
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/2960
dc.description This Paper integrates microfoundations of wage staggering into a simple dynamic general equilibrium model with rational expectations. In this context we show that a permanent increase in money growth leads to a permanent increase in the rate of inflation and a permanent reduction in the level of unemployment. In short, we derive a microfounded long-run downwardsloping Phillips curve.
dc.language eng
dc.publisher Centre for Economic Policy Research London
dc.relation CEPR Discussion paper series / Centre for Economic Policy Research 3691
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject E20
dc.subject E30
dc.subject E40
dc.subject E50
dc.subject ddc:330
dc.subject Phillips-Kurve
dc.subject Mikroökonomische Fundierung
dc.subject Theorie
dc.title The return of the long-run Phillips curve
dc.type doc-type:workingPaper

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