أعرض تسجيلة المادة بشكل مبسط

dc.creator Karanassou, Marika
dc.creator Sala, Héctor
dc.creator Snower, Dennis J.
dc.date 2002
dc.date.accessioned 2013-10-16T06:10:24Z
dc.date.available 2013-10-16T06:10:24Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/3113
dc.identifier ppn:377033197
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/3113
dc.description This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth," describing the interplay between nominal frictions and money growth. When the money supply grows in the presence of price inertia (due to staggered wage contracts with time discounting), the price adjustments to each successive change in the money supply are never able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation and these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no permanent nominal rigidities, and no departure from rational expectations, there is a long-run inflation-unemployment tradeoff.
dc.language eng
dc.publisher Department of Economics, Queen Mary College London
dc.relation Working paper series, Department of Economics, Queen Mary College, London 479
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject J3
dc.subject E5
dc.subject E4
dc.subject E2
dc.subject E3
dc.subject ddc:330
dc.subject Inflation , unemployment , Phillips curve , nominal inertia , wage-price staggering , monetary policy , business cycles , forward-looking expectations
dc.subject Phillips-Kurve
dc.subject Schätzung
dc.subject Theorie
dc.subject USA
dc.title A reappraisal of the inflation-unemployment tradeoff
dc.type doc-type:workingPaper


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أعرض تسجيلة المادة بشكل مبسط