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Title:Increasing returns to scale and the long-run Phillips curve PDF Logo
Authors:Vaona, Andrea
Snower, Dennis J.
Issue Date:2006
Series/Report no.:Kieler Arbeitspapiere 1277
Abstract:A growing body of empirical evidence shows that there exists a long-run positive tradeoff between inflation and real macroeconomic activity. Within a New Keynesian framewok, we examine how increasing returns generate a positive long-run relation between inflation and output.
Subjects:Phillips curve
Inflation
Increasing returns
Nominal inertia
Monetary policy
JEL:E3
E20
E40
E50
Document Type:Working Paper
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
Kieler Arbeitspapiere, IfW

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