Welfare Costs of Inflation in a Monetary Economy with Transactions Costs

Kwanghee Nam
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Kwanghee Nam: Korea Economic Research Institute

Korean Economic Review, 1998, vol. 14, 41-57

Abstract: This paper examines the welfare cost of inflation in an economy Mere a-gents hold money by the motivation of transaction service I formulate and es-timate the transactions cost function. Using a set of the estimated parameters, the welfare cost of inflation is measured In addition, the model economy is used to analyze whether the cyclical properties are different from those of business cycle literature.

Keywords: Inflation Tax; Welfare Cost; Transactions Cost (search for similar items in EconPapers)
JEL-codes: E0 (search for similar items in EconPapers)
Date: 1998
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