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Rethinking the welfare cost of inflation

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Author Info

  • Ben Craig
  • Guillaume Rocheteau

Abstract

New models of monetary economies, developed in the last 15 years, suggest that traditional measures of the welfare cost of inflation may underestimate the true loss that inflation inflicts on society. According to these models, the cost of 10 percent inflation ranges from 1 to 5 percent of real income.

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File URL: http://www.clevelandfed.org/Research/commentary/2005/0301.pdf
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Bibliographic Info

Article provided by Federal Reserve Bank of Cleveland in its journal Economic Commentary.

Volume (Year): (2005)
Issue (Month): Mar ()
Pages:

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Handle: RePEc:fip:fedcec:y:2005:i:mar1

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Related research

Keywords: Inflation (Finance);

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Cited by:
  1. Berentsen, Aleksander & Rojas Breu, Mariana & Shi, Shouyong, 2012. "Liquidity, innovation and growth," Journal of Monetary Economics, Elsevier, vol. 59(8), pages 721-737.

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