to money markets decrease the welfare cost of inflation substantially …

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 …

This paper uses neoclassical demand theory to calculate the welfare costs of inflation. It considers the demand … inter-related problems of estimation of money demand functions, instability of money demand relations, and monetary … aggregation. It makes full use of the relevant economic theory and econometrics and generates inference in terms of long …

compute the welfare cost of inflation in the United States. In doing so, it circumvents the problem of data-mining of some …

Economic theory traditionally suggests that monetary policy can influence the business cycle, but not the long …-run equilibrium properties, results offer overall support for the traditional economic theory. …

Economic theory traditionally suggests that monetary policy can influence the business cycle, but not the long …-run equilibrium properties, results offer overall support for the traditional economic theory …

financial dynamics in inflation-chaotic African countries for the period 1987-2010. Design/methodology/approach - VARs within … significantly adjust inflation to the cointegration relations. With respect to the second-half (short-run view) of the hypothesis … business cycles, credit expansions and inflationary tendencies, inflation targeting and monetary policy independence …