This paper shows that the interaction between money growth and staggered nominal contracts gives rise to a long …-run inflation-unemployment tradeoff. …

model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …

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 …

This paper takes a new look at the long-run dynamics of inflation and unemployment in response to permanent changes in … the growth rate of the money supply. We examine the Phillips curve from the perspective of what we call "frictional growth …", i.e. the interaction between money growth and nominal frictions. After presenting theoretical models of this phenomenon …

production determined by a matching process between workers and jobs. Macroeconomic equilibrium (national savings equal to …

With the growth of the Internet, online job portals have become an important medium for job matching. This paper …

not efficient. Inflation is detrimental to unemployment. …

is studied using an equilibrium matching model. …