We explore the welfare costs of inflation originating from lack of liquidity satiation for Weimar Republic …'s hyperinflation and three high-inflation countries. Towards the peak of Weimar's hyperinflation the costs are estimated to have been …

This paper uses neoclassical demand theory to calculate the welfare costs of inflation. It considers the demand …-run welfare costs of inflation that is internally consistent with the data and models used …

This paper examines the costs associated with the level and variability of inflation in the context of a general …. We find that the GE welfare costs of inflation are substantially larger than those computed with the CE measure …

In this paper I attempt to clarify the nature of the losses associated with inflation within a conventional model of a … competitive economy. I shall argue that were inflation fully anticipated, it would be "almost neutral" provided (a) that the tax … States). However, unanticipated inflation may have significant effects …

We revisit the estimation of the welfare costs of inflation originating from lack of liquidity satiation for 11 low-inflation … and 5 high-inflation countries, and for Weimar Republic's hyperinflation. Our evidence suggests that, contrary to the … GDP. The welfare costs of inflation in the Euro area are about twice as large as in the U.S., thus suggesting that …

interaction affects the allocation and welfare. Regarding how banking affects the welfare costs of inflation: First, we find that …, with banking, inflation generates smaller welfare costs. Second, we show that, lowering inflation improves welfare not just … nature of intermediation cost is critical for accurately assessing the welfare gain of lowering the inflation target …