TY - RPRT AU - Graham, Liam AU - Snower, Dennis J. TI - The Return of the Long-Run Phillips Curve PY - 2002/Nov/ PB - Institute of Labor Economics (IZA) CY - Bonn T2 - IZA Discussion Paper IS - 646 UR - https://www.iza.org/index.php/publications/dp646 AB - This paper shows that the interaction between money growth and staggered nominal contracts gives rise to a long-run inflation-unemployment tradeoff. KW - inflation KW - unemployment KW - Phillips curve KW - nominal inertia KW - monetary policy KW - forward-looking expectations ER -