Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/2960 
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dc.contributor.authorGraham, Liamen
dc.contributor.authorSnower, Dennis J.en
dc.date.accessioned2009-01-28T14:13:31Z-
dc.date.available2009-01-28T14:13:31Z-
dc.date.issued2003-
dc.identifier.urihttp://hdl.handle.net/10419/2960-
dc.description.abstractThis 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.en
dc.language.isoengen
dc.publisher|aCentre for Economic Policy Research (CEPR) |cLondonen
dc.relation.ispartofseries|aCEPR Discussion Paper Series |x3691en
dc.subject.jelE20en
dc.subject.jelE30en
dc.subject.jelE40en
dc.subject.jelE50en
dc.subject.ddc330en
dc.subject.stwPhillips-Kurveen
dc.subject.stwMikroökonomische Fundierungen
dc.titleThe return of the long-run Phillips curve-
dc.typeWorking Paperen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.printppn362737851en

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