%0 Report %A Graham, Liam %A Snower, Dennis J. %T The Return of the Long-Run Phillips Curve %D 2002 %8 2002 Nov %I Institute of Labor Economics (IZA) %C Bonn %7 IZA Discussion Paper %N 646 %U https://www.iza.org/index.php/publications/dp646 %X This paper shows that the interaction between money growth and staggered nominal contracts gives rise to a long-run inflation-unemployment tradeoff. %K inflation %K unemployment %K Phillips curve %K nominal inertia %K monetary policy %K forward-looking expectations