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The inflation tax and the marginal welfare cost in a world of currency and deposits

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  • Alvin L. Marty

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  • Alvin L. Marty, 1994. "The inflation tax and the marginal welfare cost in a world of currency and deposits," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 67-71.
    • Handle: RePEc:fip:fedlrv:y:1994:i:jul:p:67-71
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    References listed on IDEAS

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    1. Marty, Alvin L., 1976. "A note on the welfare cost of money creation," Journal of Monetary Economics, Elsevier, vol. 2(1), pages 121-124, January.
    2. Auernheimer, Leonardo, 1974. "The Honest Government's Guide to the Revenue from the Creation of Money," Journal of Political Economy, University of Chicago Press, vol. 82(3), pages 598-606, May/June.
    3. Tower, Edward, 1971. "More on the Welfare Cost of Inflationary Finance," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 3(4), pages 850-860, November.
    4. Friedman, Milton, 1971. "Government Revenue from Inflation," Journal of Political Economy, University of Chicago Press, vol. 79(4), pages 846-856, July-Aug..
    5. Dwyer, Gerald Jr. & Saving, Thomas R., 1986. "Government revenue from money creation with government and private money," Journal of Monetary Economics, Elsevier, vol. 17(2), pages 239-249, March.
    6. Tatom, John A, 1979. "The Marginal Welfare Cost of the Revenue from Money Creation and the "Optimal" Rate of Inflation," The Manchester School of Economic & Social Studies, University of Manchester, vol. 47(4), pages 359-368, December.
    7. Lucas, Robert Jr., 1986. "Principles of fiscal and monetary policy," Journal of Monetary Economics, Elsevier, vol. 17(1), pages 117-134, January.
    8. Ballard, Charles L & Shoven, John B & Whalley, John, 1985. "General Equilibrium Computations of the Marginal Welfare Costs of Taxes in the United States," American Economic Review, American Economic Association, vol. 75(1), pages 128-138, March.
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    Cited by:

    1. Cysne, Rubens Penha, 2002. "A note on the integrability of partial-equilibrium measures of the welfare costs of inflation," Journal of Banking & Finance, Elsevier, vol. 26(12), pages 2357-2363.
    2. Bali, Turan G., 2000. "U.S. money demand and the welfare cost of inflation in a currency-deposit model," Journal of Economics and Business, Elsevier, vol. 52(3), pages 233-258.
    3. Cysne, Rubens Penha, 2011. "The n-dimensional Bailey–Divisia measure as a general-equilibrium measure of the welfare costs of inflation," Economics Letters, Elsevier, vol. 113(2), pages 99-102.
    4. Bali, Turan G. & Thurston, Thom, 2000. "Empirical estimates of inflation tax Laffer surfaces: a 30-country study," Journal of Development Economics, Elsevier, vol. 63(2), pages 529-546, December.
    5. Arby, Muhammad Farooq, 2006. "Seigniorage Earnings of Commercial Banks and State Bank of Pakistan," MPRA Paper 4955, University Library of Munich, Germany.
    6. Baltensperger, Ernst & Jordan, Thomas J., 1997. "Seigniorage, banking, and the optimal quantity of money," Journal of Banking & Finance, Elsevier, vol. 21(6), pages 781-796, June.
    7. Bali, Turan G. & Thurston, Thom B., 2006. "Inflation shoe leather costs and average inflation rates across countries," Journal of International Money and Finance, Elsevier, vol. 25(7), pages 1103-1129, November.

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    Keywords

    Inflation (Finance); Purchasing power;

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