Rethinking the welfare cost of inflation
AbstractNew 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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Bibliographic InfoArticle provided by Federal Reserve Bank of Cleveland in its journal Economic Commentary.
Volume (Year): (2005)
Issue (Month): Mar ()
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- Aleksander Berentsen & Mariana Rojas Breu & Shouyong Shi, 2009.
"Liquidity, innovation and growth,"
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- Aleksander Berentsen & Mariana Rojas Breu & Shouyong Shi, 2009. "Liquidity, Innovation and Growth," Working Papers tecipa-371, University of Toronto, Department of Economics.
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- Aleksander Berentsen & Mariana Rojas Breu & Shouyong Shi, 2012. "Liquidity, Innovation and Growth," Working Papers tecipa-467, University of Toronto, Department of Economics.
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