Estimates of the welfare costs of inflation based on Bailey (1956) are typically computed using aggregate money demand … Great Inflation to the present regime of low and stable inflation. For this purpose, we estimate different functional … the benefits were significant for both sectors. - Welfare cost of inflation ; flow of funds data ; demand for money …

Estimates of the welfare costs of inflation based on Bailey (1956) are typically computed using aggregate money demand … models. Yet, the behavior of money demand may vary across sectors. Thus, the impact on welfare of inflation regime shifts may … Great Inflation to the present regime of low and stable inflation. For this purpose, we estimate different functional …

particular the aim of price stability, understood as low and stable inflation. Design/Research methods: The article was prepared … inflation reduces uncertainty about future price developments. This facilitates decision-making for companies concerning …

that inflation is more robust to changes in the velocity of money if reserve and liquidity requirements are low. Increases … in the velocity of money are associated with higher inflation rates if reserve and liquidity requirements are high. The …

Estimates of the welfare costs of inflation based on Bailey's (1956) methodology are typically computed on the basis of … welfare of changes in the inflation regime may differ between households and firms. We specifically investigate the sectoral … welfare implications of the shift from the Great Inflation to the present regime of low and stable inflation. In order to do …

inflation targeting. To ascertain whether this policy framework satisfies the necessary condition for effectiveness, we estimate …

for forecasting stock market busts than future inflation. Overall, this evidence points to (i) a possible evolution of the …

that inflation is more robust to changes in the velocity of money if reserve and liquidity requirements are low. Increases … in the velocity of money are associated with higher inflation rates if reserve and liquidity requirements are high. The …