Hyperbolic discounting and the Phillips curve

Arbeitspapier

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: IZA Discussion Papers ; No. 3477

Classification and Topics

• Classification: Wirtschaft ; Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy: General (includes Measurement and Data)
• Subject: Inflation ; unemployment ; Phillips curve ; nominal inertia ; monetary policy ; dynamic general equilibrium ; Phillips-Kurve ; Lohnrigidität ; Dynamisches Gleichgewicht ; Geldpolitik ; Theorie

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Graham, Liam ; Snower, Dennis J.
• Event: Veröffentlichung
• (who): Institute for the Study of Labor (IZA)
• (where): Bonn
• (when): 2008

Further information

• Handle: http://hdl.handle.net/10419/35273
• URN: urn:nbn:de:101:1-2008050232
• Last update: 10.03.2025, 11:44 AM CET