* 5 Results enter search term Search Reset filter Suchfilter Content Type Publications (5) Publication Type Working Paper (3) Journal Article (2) Research Forecasting and Business Cycle Analysis (2) Macroeconomic Research (2) Experts Dennis J. Snower (5) Liam Graham (5) Date Last Month Last Year Select Period start date to end date Sort by Relevance Date Aktive Filter Experts: Liam Graham Tags: Nominal inertia Remove all filters Publication The Real Effect of Money Growth in Dynamic General Equilibrium 01.01.2004 We analyse the effects of money growth within a standard New Keynesian framework and show that the interaction between staggered nominal contracts and money growth leads to a long-run trade-off between output and money growth. We explore the... Publication Return of the Long-Run Phillips Curve 01.01.2003 This paper integrate microfoundations of wage staggering into a simple dynamic general equilibrium model with rational expectations. In this context we show that a permanent increase in money growth leads to a permanent increase in the rate of... Publication Hyperbolic Discounting and Positive Optimal Inflation 01.01.2013 The Friedman rule states that steady-state welfare is maximized when there is deflation at the real rate of interest. Recent work by Khan, King, and Wolman [Review of Economic Studies 10 (4), 825–860] uses a richer model but still finds deflation... Publication Hyperbolic Discounting and the Phillips Curve 01.01.2008 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. Publication Hyperbolic Discounting and the Phillips Curve 01.06.2007 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.