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Title:Hyperbolic discounting and the Phillips curve PDF Logo
Authors:Graham, Liam
Snower, Dennis J.
Issue Date: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:urn:nbn:de:101:1-2008050232
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
Publikationen von Forscherinnen und Forschern des IfW

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