Relative Price Variability, Repeat Sales and the Welfare Cost of Inflation
AbstractWe present a model in which inflation has a systematic effect on relative prices and welfare. The model focuces on the microeconomics of trade under inflation, and in particular, the role of long-term trading relationships in markets characterized by imperfect information.
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Bibliographic InfoPaper provided by Tel Aviv - the Sackler Institute of Economic Studies in its series Papers with number 15-96.
Length: 25 pages
Date of creation: 1996
Date of revision:
Contact details of provider:
Postal: Tel-Aviv University, The Sackler Institute of Economic Studies, Ramat Aviv 69 978 Tel-Aviv, Israel
Web page: http://econ.tau.ac.il/
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Find related papers by JEL classification:
- E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
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