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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/2960| Title: | The return of the long-run Phillips curve |
| Keywords: | E20 E30 E40 E50 ddc:330 Phillips-Kurve Mikroökonomische Fundierung Theorie |
| Issue Date: | 16-Oct-2013 |
| Publisher: | Centre for Economic Policy Research London |
| Description: | This Paper integrates microfoundations of wage staggering into a simple dynamic general equilibrium model with rational expectations. In this context we show that a permanent increase in money growth leads to a permanent increase in the rate of inflation and a permanent reduction in the level of unemployment. In short, we derive a microfounded long-run downwardsloping Phillips curve. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/2960 |
| Other Identifiers: | http://hdl.handle.net/10419/2960 ppn:362737851 |
| Appears in Collections: | EconStor |
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