numerically equal to two thirds of the relative change in the number of eighteen-year-olds. Inflation is represented by a linear … function of labor force change rate. The models provide an accurate description for the poor economic performance and deflation … deflation. …

formulated at the beginning, one also notes that inflation has a negative effect on the economic growth. These results emphasize …

In this note, we develop a search-based monetary growth model to analyze the growth and welfare effects of inflation … inflation to those from a standard cash-in-advance (CIA) growth model. We �find two important differences between the two … approaches. First, while the growth effect of inflation operates solely through endogenous labor supply in the CIA model, the …

. Therefore, the market power of firms has drastically different implications on the welfare cost of inflation under the two … Euro Area to quantitatively evaluate and compare the welfare cost of inflation in the two economies. Finally, we simulate … transition dynamics of the R&D model in order to compute the complete welfare changes from reducing inflation. …

the CPI level, while during the underfunding period average income growth lagged behind the CPI inflation levels. Finally …

latter increasing at below inflation levels. The U.S. government’s reaction was funding an accumulated deficit of $ 7 …

were not only used for building new homes at a price in line with CPI inflation, but the volume of such funds injected … allowed the housing stock to appreciate in price over and above the CPI inflation level. In 1998 still only 16.3% of funds … provided were used to increase the housing stock prices over CPI inflation, while 83.7% was used to build new homes. By 2004 …