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Welfare Costs of Inflation in a Monetary Economy with Transactions Costs

Author

Listed:
  • Kwanghee Nam

    (Korea Economic Research Institute)

Abstract

This paper examines the welfare cost of inflation in an economy Mere a-gents hold money by the motivation of transaction service I formulate and es-timate the transactions cost function. Using a set of the estimated parameters, the welfare cost of inflation is measured In addition, the model economy is used to analyze whether the cyclical properties are different from those of business cycle literature.

Suggested Citation

  • Kwanghee Nam, 1998. "Welfare Costs of Inflation in a Monetary Economy with Transactions Costs," Korean Economic Review, Korean Economic Association, vol. 14, pages 41-57.
    • Handle: RePEc:kea:keappr:ker-199806-14-1-03
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    More about this item

    Keywords

    Inflation Tax; Welfare Cost; Transactions Cost;
    All these keywords.

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General

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