Arbeitspapier
The real effects of money growth in dynamic general equilibrium
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 microeconomic mechanisms that lead to this trade-off, and show that it remains even when the contract length is endogenised.
- Sprache
-
Englisch
- Erschienen in
-
Series: ECB Working Paper ; No. 412
Klassifikation
Wirtschaft
Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy: General (includes Measurement and Data)
Money and Interest Rates: General
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy: General (includes Measurement and Data)
Money and Interest Rates: General
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
Thema
inflation
nominal inertia
Phillips curve
Unemployment
nominal inertia
Phillips curve
Unemployment
Ereignis
Geistige Schöpfung
(wer)
Graham, Liam
Snower, Dennis J.
Snower, Dennis J.
Ereignis
Veröffentlichung
(wer)
European Central Bank (ECB)
(wo)
Frankfurt a. M.
(wann)
2004
- Handle
- Letzte Aktualisierung
-
12.07.2024, 13:22 MESZ
Objekttyp
- Arbeitspapier
Beteiligte
- Graham, Liam
- Snower, Dennis J.
- European Central Bank (ECB)
Entstanden
- 2004
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