Welfare Costs of Inflation, Seigniorage, and Financial innovation:
This paper examines the welfare effects of mitigating the costs of inflation. In a simple model where money reduces transaction costs, a fall in the costs of inflation is equivalent to financial innovation. This can be caused by paying interest on deposits, indexing money, or "dollarizing."...
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1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
1991
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Schriftenreihe: | IMF Working Papers
Working Paper No. 91/1 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | This paper examines the welfare effects of mitigating the costs of inflation. In a simple model where money reduces transaction costs, a fall in the costs of inflation is equivalent to financial innovation. This can be caused by paying interest on deposits, indexing money, or "dollarizing." Results indicate that financial innovation raises welfare in low inflation economies while reducing it in high inflation economies, due to the offsetting indirect effect of higher inflation to finance the budget |
Beschreibung: | 1 Online-Ressource (34 p) |
ISBN: | 145193128X 9781451931280 |
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spelling | De Gregorio, Jose Verfasser aut Welfare Costs of Inflation, Seigniorage, and Financial innovation De Gregorio, Jose Washington, D.C International Monetary Fund 1991 1 Online-Ressource (34 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 91/1 This paper examines the welfare effects of mitigating the costs of inflation. In a simple model where money reduces transaction costs, a fall in the costs of inflation is equivalent to financial innovation. This can be caused by paying interest on deposits, indexing money, or "dollarizing." Results indicate that financial innovation raises welfare in low inflation economies while reducing it in high inflation economies, due to the offsetting indirect effect of higher inflation to finance the budget Online-Ausg http://elibrary.imf.org/view/IMF001/07862-9781451931280/07862-9781451931280/07862-9781451931280.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | De Gregorio, Jose Welfare Costs of Inflation, Seigniorage, and Financial innovation |
title | Welfare Costs of Inflation, Seigniorage, and Financial innovation |
title_auth | Welfare Costs of Inflation, Seigniorage, and Financial innovation |
title_exact_search | Welfare Costs of Inflation, Seigniorage, and Financial innovation |
title_exact_search_txtP | Welfare Costs of Inflation, Seigniorage, and Financial innovation |
title_full | Welfare Costs of Inflation, Seigniorage, and Financial innovation De Gregorio, Jose |
title_fullStr | Welfare Costs of Inflation, Seigniorage, and Financial innovation De Gregorio, Jose |
title_full_unstemmed | Welfare Costs of Inflation, Seigniorage, and Financial innovation De Gregorio, Jose |
title_short | Welfare Costs of Inflation, Seigniorage, and Financial innovation |
title_sort | welfare costs of inflation seigniorage and financial innovation |
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