The Return of the Long-Run Phillips Curve

Liam Graham () and Dennis Snower
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Liam Graham: University College London

No 646, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: This paper shows that the interaction between money growth and staggered nominal contracts gives rise to a long-run inflation-unemployment tradeoff.

Keywords: inflation; unemployment; Phillips curve; nominal inertia; monetary policy; forward-looking expectations (search for similar items in EconPapers)
JEL-codes: E2 E3 E4 E5 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2002-11
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (25)

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Working Paper: The Return of the Long-Run Phillips Curve (2003)
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