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dc.contributor.authorKaranassou, Marikaen_US
dc.contributor.authorSala, Héctoren_US
dc.contributor.authorSnower, Dennis J.en_US
dc.date.accessioned2009-01-28T14:20:16Z-
dc.date.available2009-01-28T14:20:16Z-
dc.date.issued2002en_US
dc.identifier.urihttp://hdl.handle.net/10419/3112-
dc.description.abstractThis paper takes a new look at the long-run dynamics of inflation and unemployment in response to permanent changes in the growth rate of the money supply. We examine the Phillips curve from the perspective of what we call "frictional growth," i.e. the interaction between money growth and nominal frictions. After presenting a theoretical model of this phenomenon, we construct an empirical model of the Spanish economy and, in this context, we evaluate the long-run inflation-unemployment tradeoff for Spain and examine how recent policy changes have affected it.en_US
dc.language.isoengen_US
dc.publisherDepartment of Economics, Queen Mary College London-
dc.relation.ispartofseriesWorking paper series, Department of Economics, Queen Mary College, London 477en_US
dc.subject.jelE4en_US
dc.subject.jelJ3en_US
dc.subject.jelE5en_US
dc.subject.jelE3en_US
dc.subject.jelE2en_US
dc.subject.ddc330-
dc.subject.keywordInflation-unemployment tradeoff , Phillips curve , staggered wage contracts , nominal inertia , forward-looking expectations , monetary policyen_US
dc.subject.stwUnit Root Testen_US
dc.subject.stwStrukturbruchen_US
dc.subject.stwMonte-Carlo-Methodeen_US
dc.subject.stwPhillips-Kurveen_US
dc.subject.stwGeldmengensteuerungen_US
dc.subject.stwSpanienen_US
dc.titleLong-run inflation-unemployment dynamics: The Spanish Phillips curve and economic policyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn377032921en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Working Paper Series, School of Economics and Finance, Queen Mary, University of London
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