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Welfare cost of inflation in a stochastic balanced growth model

✍ Scribed by Sel Dibooglu; Turalay Kenc


Book ID
116423894
Publisher
Elsevier Science
Year
2009
Tongue
English
Weight
832 KB
Volume
26
Category
Article
ISSN
0264-9993

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Welfare costs of inflation in a dynamic
✍ Burkhard Heer πŸ“‚ Article πŸ“… 2003 πŸ› Elsevier Science 🌐 English βš– 552 KB

We present a monetary general equilibrium model with labor market frictions in the form of search unemployment which is calibrated for the US economy. Interestingly, both employment and output may even increase with the rate of in ation depending on the elasticity of labor supply. Considering the tr