Welfare costs of inflation : the case for interest-bearing money and empirical estimates for Brazil
We provide in this paper a closed fonn for the Welfare Cost of Inflation which we prove to be closer than Bailey's expression to the correct solution of the corresponding non-separable differential equation. Next. we extend this approach to ao economy with interest-bearing money, once again presenting a better appoximation than the one given by Bailey's approach. Fmally, empirical estimates for Brazil are presented.
Year of publication: |
1994-07
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Authors: | Simonsen, Mario Henrique ; Cysne, Rubens Penha |
Institutions: | FGV/EPGE Escola Brasileira de Economia e Finanças, Fundação Getulio Vargas (FGV) |
Saved in:
freely available
Extent: | application/pdf |
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Series: | Economics Working Papers (Ensaios Economicos da EPGE). - ISSN 0104-8910. |
Type of publication: | Book / Working Paper |
Notes: | Number 245 |
Source: |
Persistent link: https://www.econbiz.de/10005110526
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