The cost of the FED maintaining a low target level of inflation is measured by Lucas (2000) and Ireland (2009) as the … welfare cost of inflation based on money demand. Their estimates require stability of the money demand function. Ireland finds … inflation to the post-Volcker period …

A low-inflation mystery emerged during the 2010-2019 period as the Federal Reserve struggled to hit its two percent … inflation target. This paper presents theoretical results and empirical evidence that points to the safe asset shortage as a key … reason for the low inflation during this time. Specifically, the paper shows that the safe asset shortage was part of a …

inflation tax Laffer curve before abandoning the currency. Estimates of the seignorage-maximizing rate derive from a short … percent, generally exceeding monthly inflation …

Bank of Zimbabwe (RBZ) operated on the correct side of the inflation tax Laffer curve. Estimated seignorage maximizing … prices for the Old Mutual insurance company's shares, which trade in London and Harare, serve as the measure of inflation … 242 to 315 percent and exceeded all monthly inflation rates …

not separable in consumption and real balances, and trend inflation. An empirical study of U.S. data revealed that there … trend inflation. A further decline in the interest-elasticity of the demand for money was observed in the 1980s due to the … welfare cost of inflation that subsequently explains the rise in monetary neutrality observed in the data …

separable in consumption and real balances, and trend inflation. An empirical study of U.S. data revealed that there was a … inflation. A further decline in the interest-elasticity of the demand for money was observed in the 1980s due to the changing … cost of inflation that subsequently explains the rise in monetary neutrality observed in the data …