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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/2910Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.contributor | forward- and backward-looking wage-price behavior | - |
| dc.creator | Snower, Dennis J. | - |
| dc.creator | Karanassou, Marika | - |
| dc.date | 2002 | - |
| dc.date.accessioned | 2013-10-16T06:35:56Z | - |
| dc.date.available | 2013-10-16T06:35:56Z | - |
| dc.date.issued | 2013-10-16 | - |
| dc.identifier | http://hdl.handle.net/10419/2910 | - |
| dc.identifier | ppn:360642497 | - |
| dc.identifier | ppn:360642497 | - |
| dc.identifier.uri | http://koha.mediu.edu.my:8181/xmlui/handle/10419/2910 | - |
| dc.description | The paper examines how the long-run inflation-unemployment tradeoff depends on the degree to which wage-price decisions are backward- versus forward-looking. When economic agents, facing time-contingent, staggered nominal contracts, have a positive rate of time preference, the current wage and price levels depend more heavily on past variables (e.g. past wages and prices) than on future variables. Consequently, the long-run Phillips curve becomes downward-sloping and, indeed, quit flat for plausible parameter values. This paper provides an intuitive account of how this long-run Phillips curve arises. | - |
| dc.language | eng | - |
| dc.publisher | Istitut zur Zukunft der Arbeit Bonn | - |
| dc.relation | IZA Discussion paper series 635 | - |
| dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | - |
| dc.subject | J3 | - |
| dc.subject | E2 | - |
| dc.subject | E3 | - |
| dc.subject | E5 | - |
| dc.subject | ddc:330 | - |
| dc.subject | inflation-unemployment tradeoff | - |
| dc.subject | wage-price staggering | - |
| dc.subject | monetary policy | - |
| dc.subject | forward- and backward-looking wage-price behavior | - |
| dc.subject | traditional and New Phillips curve | - |
| dc.subject | Phillips-Kurve | - |
| dc.subject | Theorie | - |
| dc.title | An anatomy of the Phillips curve | - |
| dc.type | doc-type:workingPaper | - |
| Appears in Collections: | EconStor | |
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