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dc.contributor.authorGraham, Liamen_US
dc.contributor.authorSnower, Dennis J.en_US
dc.date.accessioned2009-01-28T14:13:31Z-
dc.date.available2009-01-28T14:13:31Z-
dc.date.issued2003en_US
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.-
dc.language.isoengen_US
dc.publisherCentre for Economic Policy Research London-
dc.relation.ispartofseriesCEPR Discussion Paper Series, Centre for Economic Policy Research (CEPR), London 3691-
dc.subject.jelE20-
dc.subject.jelE30-
dc.subject.jelE40-
dc.subject.jelE50-
dc.subject.ddc330-
dc.subject.stwPhillips-Kurveen_US
dc.subject.stwMikroökonomische Fundierungen_US
dc.titleThe return of the long-run Phillips curveen_US
dc.typeWorking Paperen_US
dc.identifier.ppn362737851en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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