Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/4030
Authors: 
Graham, Liam
Snower, Dennis J.
Year of Publication: 
2007
Series/Report no.: 
Kiel Working Paper 1346
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 e¤ects on real variables.
Subjects: 
Unemployment
Phillips curve
Monetary policy
Dynamic general equilibrium
Nominal inertia
Inflation
JEL: 
E20
E40
E50
Document Type: 
Working Paper

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