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Inflation and Price Adjustment: An Analysis of Microdata

โœ Scribed by Benjamin Eden


Book ID
112264592
Publisher
Elsevier Science
Year
2001
Tongue
English
Weight
273 KB
Volume
4
Category
Article
ISSN
1096-0929

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## Abstract I analyse the optimal rate of inflation when prices are costly to change. As the costs of price adjustment are the main friction in the model, effects of inflation stem from the accounting role of money. Inflation increases relative price variability and reduces the average product of l