policy literature. The extent to which these firms adjust their prices to lagged inflation has been taken as fixed. We …

hyperbolic discounting leads to inflation having significant long-run effects on real variables. …

hyperbolic discounting leads to inflation having significant long-run effects on real variables. …

, and finds that money and credit shocks explain much of the velocity variation. The role of the shocks varies across sub … similar effects on velocity, but opposite effects upon growth. The model matches the data's average velocity and simulates … well velocity volatility. Its Cagan-like money demand means that money and credit shocks cause greater velocity variation …

The explanation of velocity in neoclassical monetary business cycle models relies on a goods productivity shocks to … mimic the dataís procyclic velocity feature; money shocks are not important; and the Önancial sector plays no role. This … much of the velocity variation. The role of the shocks varies across sub-periods in an intuitive fashion. Endogenous growth …

How are inflation and unemployment related in the long run? Are they negatively correlated, as in the so-called naive … in his Nobel lecture? In this paper inflation is introduced into a general equilibrium search unemployment model. We show … of inflation. …

money supply and national outcome, inflation, and price level are studied in three cases: full-employment equilibrium …

between inflation and real output have been developed. Since these new Phillips curve models are expressed in terms of …

inflation and Tobin's q; a normalized market price of capital. This stylized fact is explained within a dynamic stochastic … rising marginal cost of investment, (ii) production of human capital with endogenous growth and (iii) an inflation tax cash …-in-advance economy. The baseline endogenous growth model matches the US inflation and q long term correlation, while comparable exogenous …