The paper presents the welfare cost of inflation in a banking time economy that models exchange credit through a bank … welfare cost of a 10% inflation rate instead of zero, for comparison to other estimates, as well as the cost of a 2% inflation … rate instead of a zero inflation rate. The zero rate is specified as the US inflation rate target in the 1978 Employment …

inflation and Tobin's q; a normalized market price of capital. This stylized fact is explained within a dynamic stochastic … rising marginal cost of investment, (ii) production of human capital with endogenous growth and (iii) an inflation tax cash …-in-advance economy. The baseline endogenous growth model matches the US inflation and q long term correlation, while comparable exogenous …

The paper presents the welfare cost of inflation in a banking time economy that models exchange credit through a bank … welfare cost of a 10% inflation rate instead of zero, for comparison to other estimates, as well as the cost of a 2% inflation … rate instead of a zero inflation rate. The zero rate is specified as the US inflation rate target in the 1978 Employment …

The paper presents a theory of nominal asset prices for competitively owned oil. Focusing on monetary effects, with … flexible oil prices the US dollar oil price should follow the aggregate US price level. But with rigid nominal oil prices, the … causality of the oil price by US inflation as is consistent with the theory. …

The paper presents a theory of nominal asset prices for competitively owned oil. Focusing on monetary effects, with … flexible oil prices the US dollar oil price should follow the aggregate US price level. But with rigid nominal oil prices, the … causality of the oil price by US inflation as is consistent with the theory. …

, in particular by capturing the procyclic movements of monetary aggregates, inflation and interest rates. And its …

The empirical evidence suggests that there is a significant, negative relationship between inflation and economic …. Therefore the technology of the financial sector influences the velocity of money, and consequently, how inflation affects … generates an inflation-growth effect whose magnitude falls in the range found by the empiri-cal studies. Moreover, in contrast …

buy the market good. An increase in inflation raises the price of the corruption service, reduces the non-market good …

The empirical evidence suggests that there is a significant, negative relationship between inflation and economic …. Therefore the technology of the financial sector influences the velocity of money, and consequently, how inflation affects … generates an inflation-growth effect whose magnitude falls in the range found by the empirical studies. Moreover, in contrast to …

The empirical evidence suggests that there is a significant, negative relationship between inflation and economic …. Therefore the technology of the financial sector influences the velocity of money, and consequently, how inflation affects … generates an inflation-growth effect whose magnitude falls in the range found by the empirical studies. Moreover, in contrast to …