Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/28859 
Year of Publication: 
2007
Series/Report no.: 
Quaderni di Dipartimento - EPMQ No. 203
Publisher: 
Università degli Studi di Pavia, Dipartimento di Economia Politica e Metodi Quantitativi (EPMQ), Pavia
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

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