The n-dimensional Bailey–Divisia measure as a general-equilibrium measure of the welfare costs of inflation

Rubens Cysne

Economics Letters, 2011, vol. 113, issue 2, 99-102

Abstract: This paper shows that in economies with several monies the Bailey–Divisia multidimensional consumers’ surplus formula may emerge as an exact general-equilibrium measure of the welfare costs of inflation, provided that preferences are quasilinear.

Keywords: Inflation; Welfare; Bailey; Divisia; Surplus; Index (search for similar items in EconPapers)
JEL-codes: C0 E40 E50 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (2)

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Working Paper: The n-dimensional bailey-divisia measure as a general-equilibrium measure of the welfare costs of inflation (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:113:y:2011:i:2:p:99-102

DOI: 10.1016/j.econlet.2011.06.004

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