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dc.contributor.authorKaranassou, Marikaen
dc.contributor.authorSala, Héctoren
dc.contributor.authorSnower, Dennis J.en
dc.date.accessioned2009-01-28T14:20:16Z-
dc.date.available2009-01-28T14:20:16Z-
dc.date.issued2002-
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
dc.language.isoengen
dc.publisher|aQueen Mary University of London, Department of Economics |cLondonen
dc.relation.ispartofseries|aWorking Paper |x477en
dc.subject.jelE4en
dc.subject.jelJ3en
dc.subject.jelE5en
dc.subject.jelE3en
dc.subject.jelE2en
dc.subject.ddc330en
dc.subject.keywordInflation-unemployment tradeoffen
dc.subject.keywordPhillips curveen
dc.subject.keywordstaggered wage contractsen
dc.subject.keywordnominal inertiaen
dc.subject.keywordforward-looking expectationsen
dc.subject.keywordmonetary policyen
dc.subject.stwUnit Root Testen
dc.subject.stwStrukturbruchen
dc.subject.stwMonte-Carlo-Methodeen
dc.subject.stwPhillips-Kurveen
dc.subject.stwGeldmengensteuerungen
dc.subject.stwSpanienen
dc.titleLong-run inflation-unemployment dynamics: The Spanish Phillips curve and economic policy-
dc.typeWorking Paperen
dc.identifier.ppn377032921en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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