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Inflation, welfare and public goods

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Author Info
BLOISE, Gaetano
CURRARINI, Sergio
KIKIDIS, Nicholas

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Abstract

In this paper we study the welfare effects of monetary policy in a simple overlapping generation economy in which agents voluntary contribute to a public good. Inßation has two effects at equilibrium: it increases voluntary contributions and it misallocates private consumption across time. We show that the aggregate effect is welfare improving for Ònot too highÓ inßation rates. Moreover, there exists an optimal inßation rate

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File URL: http://www.core.ucl.ac.be/services/psfiles/dp98/dp9837.ps
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Publisher Info
Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 1998037.

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Date of creation: 01 Jun 1998
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Handle: RePEc:cor:louvco:1998037

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Related research
Keywords: public goods provision; overlapping generations; inßation.;

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