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Hyperbolic Discounting and the Phillips Curve Author info | Abstract | Publisher info | Download info | Related research | Statistics Liam Graham
Dennis J. Snower
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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.
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Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number
1346.
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Length: 29 pages
Date of creation: Jun 2007Date of revision:
Handle: RePEc:kie:kieliw:1346Contact details of provider: Phone: +49 431 8814-1 Fax: +49 431 85853 Email: Web page: http://www.ifw-kiel.de
For technical questions regarding this item, or to correct its listing, contact: (Dieter Stribny).
Keywords: inflation ; unemployment ; Phillips curve ; nominal inertia ; monetary policy ; dynamic general equilibrium ; Other versions of this item:
Find related papers by JEL classification: E20 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data) E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Hasan Bakhshi & Pablo Burriel-Llombart & Hashmat Khan & Barbara Rudolf, .
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[Downloadable!] (restricted) Ascari, Guido, 2000.
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Other versions: Benabou, R. & Tirole, J., 2001.
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Macroeconomic Dynamics ,
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repec:cup:macdyn:v:2:y:1998:i:3:p:383-400 is not listed on IDEAS
Ahmed, Shaghil & Rogers, John H., 2000.
"Inflation and the great ratios: Long term evidence from the U.S ,"
Journal of Monetary Economics ,
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Karanassou, Marika & Sala, Hector, 2009.
"Productivity Growth and the Phillips Curve: A Reassessment of the US Experience ,"
IZA Discussion Papers
4299, Institute for the Study of Labor (IZA).
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Other versions: Guido Ascari & Tiziano Ropele, 2007.
"Trend Inflation, Taylor Principle and Indeterminacy ,"
Kiel Working Papers
1332, Kiel Institute for the World Economy.
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Other versions:
Guido Ascari & Tiziano Ropele, 2005.
"Trend Inflation, Taylor Principle and Indeterminacy ,"
Working Papers
93, University of Milano-Bicocca, Department of Economics, revised Oct 2005.
[Downloadable!] Guido Ascari & Tiziano Ropele, 2009.
"Trend inflation, Taylor principle and indeterminacy ,"
Temi di discussione (Economic working papers)
708, Bank of Italy, Economic Research Department.
[Downloadable!] Marika Karanassou & Hector Sala & Dennis J. Snower, 2008.
"Phillips Curves and Unemployment Dynamics: A Critique and a Holistic Perspective ,"
Discussion Papers
2008-08, School of Economics, The University of New South Wales.
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Marika Karanassou & Hector Sala & Dennis J. Snower, 2006.
"Phillips Curves and Unemployment Dynamics: A Critique and a Holistic Perspective ,"
Working Papers
573, Queen Mary, University of London, Department of Economics.
[Downloadable!] Marika Karanassou & Hector Sala & Dennis Snower, 2008.
"Phillips Curves and Unemployment Dynamics: A Critique and a Holistic Perspective ,"
Kiel Working Papers
1441, Kiel Institute for the World Economy.
[Downloadable!] Marika Karanassou & Hector Sala & Dennis J. Snower, 2006.
"Phillips Curves and Unemployment Dynamics: A Critique and a Holistic Perspective ,"
IZA Discussion Papers
2265, Institute for the Study of Labor (IZA).
[Downloadable!]
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