The Welfare Costs of Inflation

Luca Benati and Juan Pablo Nicolini

Diskussionsschriften from Universitaet Bern, Departement Volkswirtschaft

Abstract: We revisit the estimation of the welfare costs of inflation originating from lack of liquidity satiation. We use data for the United States and several other developed countries. Our computations are heavily influenced by the recent experience of very low, even negative, short term rates observed in the countries we study. We obtain estimates that are close to those obtained by Lucas (2000), and an order of magnitude higher than those in Ireland (2009).

Date: 2021-08
New Economics Papers: this item is included in nep-cba, nep-cwa and nep-mon
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Related works:
Working Paper: The Welfare Costs of Inflation (2021)
Working Paper: The Welfare Costs of Inflation (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:ube:dpvwib:dp2113

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