Costs of Inflation
Edward Driffill (),
Grayham Mizon and
Alistair Mitchell Ulph
No 293, CEPR Discussion Papers from C.E.P.R. Discussion Papers
Abstract:
We review theoretical and empirical analyses of the costs of inflation. Part 2 of the paper examines microeconomic models in which inflation is perfectly anticipated, and viewed as the only distortion in the economy or as one of many distortionary taxes, which may or may not be chosen optimally. Part 3 turns to stochastic models with a more macroeconomic orientation, in which inflation is imperfectly perceived, or where real costs of price adjustment cause agents not to adjust fully in the presence of inflation. Part 4 discusses empirical work, which largely focuses on the relationship between the level of inflation, its variability, its unpredictability, and variation in relative prices.
Keywords: Fluctuations; Inflation; Welfare Costs (search for similar items in EconPapers)
Date: 1989-04
References: Add references at CitEc
Citations:
Downloads: (external link)
http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=293 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org
Related works:
Chapter: Costs of inflation (1990) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:293
Ordering information: This working paper can be ordered from
http://www.cepr.org/ ... pers/dp.php?dpno=293
Access Statistics for this paper
More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().