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A reappraisal of the inflation-unemployment tradeoff
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2005
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...
Persistent link: https://www.econbiz.de/10010955553
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The European Phillips curve: does the NAIRU exist?
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - 2003
model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …
Persistent link: https://www.econbiz.de/10010265404
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An anatomy of the Phillips curve
Snower, Dennis J.; Karanassou, Marika - 2002
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...
Persistent link: https://www.econbiz.de/10010265572
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Long-run inflation-unemployment dynamics: The Spanish Phillips curve and economic policy
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2008
", i.e. the interaction between money growth and nominal frictions. After presenting a theoretical model of this phenomenon …, we construct an empirical model of the Spanish economy and, in this context, we evaluate the long-run inflation …
Persistent link: https://www.econbiz.de/10011453721
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The European Phillips curve: Does the NAIRU exist?
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - 2003
model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …
Persistent link: https://www.econbiz.de/10010332742
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Long-run inflation-unemployment dynamics: The Spanish Phillips curve and economic policy
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - 2008
", i.e. the interaction between money growth and nominal frictions. After presenting a theoretical model of this phenomenon …, we construct an empirical model of the Spanish economy and, in this context, we evaluate the long-run inflation …
Persistent link: https://www.econbiz.de/10010276415
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A reappraisal of the inflation-unemployment tradeoff
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - 2002
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...
Persistent link: https://www.econbiz.de/10010276419
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Long-run inflation-unemployment dynamics: The Spanish Phillips curve and economic policy
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2007
", i.e. the interaction between money growth and nominal frictions. After presenting a theoretical model of this phenomenon …, we construct an empirical model of the Spanish economy and, in this context, we evaluate the long-run inflation …
Persistent link: https://www.econbiz.de/10010276422
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Long-run inflation-unemployment dynamics: The Spanish Phillips curve and economic policy
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - 2002
, we construct an empirical model of the Spanish economy and, in this context, we evaluate the long-run inflation …
Persistent link: https://www.econbiz.de/10010276424
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Long-run inflation-unemployment dynamics: The Spanish Phillips curve and economic policy
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - 2002
," i.e. the interaction between money growth and nominal frictions. After presenting a theoretical model of this phenomenon …, we construct an empirical model of the Spanish economy and, in this context, we evaluate the long-run inflation …
Persistent link: https://www.econbiz.de/10010281024