Hyperbolic Discounting and the Phillips Curve

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 effects on real variables

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Year of publication:	[2021]
Authors:	Graham, Liam ; Snower, Dennis J.
Publisher:	[S.l.] : SSRN
Subject:	Phillips-Kurve \| Phillips curve \| Theorie \| Theory \| Geldpolitik \| Monetary policy \| Dynamisches Gleichgewicht \| Dynamic equilibrium \| Lohnrigidität \| Wage rigidity

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Extent:	1 Online-Ressource (32 p)
Series:	, Vol. , pp. -
Type of publication:	Book / Working Paper
Language:	English
Other identifiers:	10.2139/ssrn.1136278 [DOI]
Classification:	E20 - Consumption, Saving, Production, Employment, and Investment. General ; E40 - Money and Interest Rates. General ; E50 - Monetary Policy, Central Banking and the Supply of Money and Credit. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013325244