This paper reviews theory and evidence of the welfare effects of inflation from a costbenefit perspective. Basic models … and selected empirical results are discussed. Historically, in assessing the welfare effects of inflation, the distortion … of money demand played a prominent role. More recently, interactions of inflation and taxation came into focus. Growth …

The long-run relation between growth and inflation has not yet been studied in the context of nominal price and wage … integrate staggered price- and wage-setting into an endogenous growth framework. In this setting, growth and inflation are … linked via the incentive to innovate. For standard calibrations, the linkage is strong: as trend inflation shifts from -5 to …

): "lf the true and fully anticipated rate of inflation has stabilized at a low level, i.e. two per cent, is the gain from … reducing inflation to zero worth the sacrifice in output and employment that would be required to achieve it?" ... …

untersucht: "If the true and fully anticipated rate of inflation has stabilized at a low level, i.e. two per cent, is the gain … from reducing inflation to zero worth the sacrifice in output and employment that would be required to achieve it?" ... …): "If the true and fully anticipated rate of inflation has stabilized at a low level, i.e. two per cent, is the gain from …