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 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 …

A pervasive empirical finding for the US economy is that inflation is negatively correlated with the normalized market … comparative statics analysis suggests that inflation diverts scarce time resource to leisure which lowers human capital … the short run, a Tobin effect of inflation on growth weakens the negative association between inflation and q. …

volatilities away from the downward trending GDP and inflation volatilities. Using an endogenous growth monetary DSGE model, with … the upswing in the credit volatility that kept money supply variability from translating into inflation and GDP volatility …. -- Volatility ; money and credit shocks ; growth ; inflation …