Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/35273
Authors: 
Graham, Liam
Snower, Dennis J.
Year of Publication: 
2008
Series/Report no.: 
IZA Discussion Papers 3477
Abstract: 
Using a standard dynamic general equilibrium model, we show that the interaction of staggered nominal contracts with hyperbolic discounting leads to inflation having significant long-run effects on real variables.
Subjects: 
Inflation
unemployment
Phillips curve
nominal inertia
monetary policy
dynamic general equilibrium
JEL: 
E20
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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