Hyperbolic discounting and the Phillips curve

Liam Graham and Dennis J. Snower

No 1346, Kiel Working Papers from Kiel Institute for the World Economy

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.

Keywords: Unemployment; Phillips curve; Monetary policy; Dynamic general equilibrium; Nominal inertia; Inflation (search for similar items in EconPapers)
JEL-codes: E20 E40 E50 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (4)

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Related works:
Journal Article: Hyperbolic Discounting and the Phillips Curve (2008)
Working Paper: Hyperbolic Discounting and the Phillips Curve (2008)
Working Paper: Hyperbolic discounting and the Phillips curve (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwkwp:1346

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