The Welfare Cost of Inflation in Greece

Kent Kimbrough and Ioannis Spyridopoulos
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Kent Kimbrough: Duke University, Department of Economics
Ioannis Spyridopoulos: Duke University, Department of Economics

South-Eastern Europe Journal of Economics, 2012, vol. 10, issue 1, 41-52

Abstract: This paper measures the welfare cost of inflation for the case of Greece, using quarterly data for the period 1980Q1-1999Q4. Log-log and semi-log money demand functions are estimated using both OLS and Stock and Watson's (1993) dynamic OLS method. These estimates show the welfare cost of a 10 percent inflation rate in the range of 0.59 percent to 0.91 percent of GDP.

Keywords: Welfare cost of inflation; Inflation tax; inflation (search for similar items in EconPapers)
JEL-codes: E52 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:seb:journl:v:10:y:2012:i:1:p:41-52

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