Relative Price Variability, Repeat Sales and the Welfare Cost of Inflation

Chaim Fershtman (), Arthur Fishman () and A. Simhon

Working Papers from Tel Aviv - the Sackler Institute of Economic Studies

Abstract: We present a model in which inflation has a systematic effect on relative prices and welfare. The model focuces on the microeconomics of trade under inflation, and in particular, the role of long-term trading relationships in markets characterized by imperfect information.

Keywords: INFLATION; PRICES (search for similar items in EconPapers)
JEL-codes: E30 E31 (search for similar items in EconPapers)
Date: 1996

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Persistent link: http://EconPapers.repec.org/RePEc:fth:teavsa:15-96

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