Hyperbolic Discounting and the Phillips Curve
在标准动态一般均衡模型中引入双曲贴现和交错名义合同，发现通胀对实际变量有显著的长期影响。
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.