Hyperbolic Discounting and the Phillips Curve

Abstract

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.

Cite this

Liam Graham, Dennis J. Snower (2008). Hyperbolic Discounting and the Phillips Curve. Journal of money credit and banking. https://doi.org/10.1111/j.1538-4616.2008.00120.x

@article{liam2008hyperbolic,
  title  = {Hyperbolic Discounting and the Phillips Curve},
  author = {Graham, Liam and Snower, Dennis J.},
  year   = {2008},
  journal = {Journal of money credit and banking},
  doi    = {10.1111/j.1538-4616.2008.00120.x}
}

Citations in this library

Stored only when both papers are in the corpus — 74 citations exist upstream.

References

Cited by