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Notes on optimal taxation and the optimal rate of inflation

โœ Scribed by Jeremy J. Siegel


Book ID
116124528
Publisher
Elsevier Science
Year
1978
Tongue
English
Weight
998 KB
Volume
4
Category
Article
ISSN
0304-3932

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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