Yavari, Kazem; Mehrnoosh, Mina - In: Iranian Economic Review 10 (2005) 2, pp. 111-117
The purpose of this paper is to estimate the welfare cost of inflation in Iran. We first use the long-horizon regression approach developed by Fisher and Seater (1993) to obtain an estimate of the inflation rate elasticity of money demand and then the Baily’s consumer surplus approach to...