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The n-dimensional bailey-divisia measure as a general-equilibrium measure of the welfare costs of inflation
(Fundação Getulio Vargas. Escola de Pós-graduação em Economia, 2011-07-26)
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 in ation, provided that ...